Abstract
International Flavors & Fragrances will sell its flavor specialty ingredients business to Exponent, a UK-based private equity firm, for $220 million. The business makes more than 1,000 synthetic aroma chemicals and natural extracts used in flavors. It has about $100 million in annual sales and operates plants in the UK, the US, and China. Exponent notes that it is already an investor in two other food businesses: Quorn Foods, a maker of meat alternatives, and Meadow Foods, a dairy ingredients firm.
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