Bunge to acquire IFF’s soy lecithin and concentrates business

Bunge Global SA announced it has entered into an agreement with Solae to acquire substantially all of the lecithin, soy protein concentrate and soybean processing assets of International Flavors and Fragrances, Inc (IFF).

The agreement, announced Aug. 5, is expected to close by the end of 2025, according to World Grain. Financial terms of the deal were not disclosed.

The purchase agreement covers operations that generated approximately $240 million in 2024 revenue for New York, New York-based IFF and employs approximately 250 people worldwide. IFF is a global provider of flavors, fragrances, food ingredients, and health and life sciences solutions.

“Bunge is focused on consolidating assets, and I would argue they are managing them much better than we are,” says IFF CEO Fyrwald. “We had low single-digit EBITDA margins and these products were distracting us from our highly differentiated isolated soy protein business, which we can now focus on, driving application development and innovation in that business because we no longer have to worry about commodity markets. Overall, this will significantly improve our profitability in the food ingredients segment and allow us to focus on what we really need.” In the agribusiness segment, Bunge processes oilseeds, primarily soybeans, canola, and sunflower, into vegetable oils and protein meals primarily for the food, feed, and biofuels industries. The products are used to make animal feed, cooking oils, margarines, shortening, and vegetable proteins, as well as in the biodiesel industry.

Tags: Bunge