International Flavors & Fragrances (IFF) is making significant financial changes to manage its debt and refocus its operations. IFF reported a net loss of US$1.02 billion in Q1, mainly due to a goodwill impairment. The company is launching a financial strategy to repurchase some of its outstanding debt in investor loans to strengthen its balance sheet. IFF will fund the buyback program with proceeds from last week’s sale of IFF’s Pharma Solutions business unit to Roquette.
