09:15 AM EDT, 07/31/2026 (MT Newswires) -- Cannae (CNNE) said Friday it has sold its equity stake in flavoring producer Watkins to private investment firm KDSA Investment Partners.

The divestment generated an internal rate of return of nearly 10% on the $80 million investment made in October 2024, the company said.

The sale of the non-core business provides funds for future investments or capital returns to shareholders while shifting focus toward sports and entertainment-related properties, Cannae said.

Shares of Cannae were up 1.6% in premarket activity Friday.