IFF to Expand into Cosmetics Ingredients
Makes Binding Offer for the Acquisition of Lucas Meyer Cosmetics
International Flavors & Fragrances Inc. announced that it has made a binding offer for the acquisition of Lucas Meyer Cosmetics, a business of Unipex Group. The transaction is structured as a binding offer in order to allow the seller to consult with its French works council prior to entering into the final purchase agreement. The acquisition is expected to close in the third quarter of 2015 and is subject to exclusivity protection.
Lucas Meyer Cosmetics, headquartered in Quebec City, Canada, with operations in France and Australia, develops, manufactures and markets innovative ingredients for the cosmetics and personal care industry. The Company offers proprietary active ingredients, functional ingredients and delivery systems that address health and wellness macro-trends in the beauty industry in both the developed and emerging markets.
“The addition of Lucas Meyer Cosmetics to the IFF portfolio aligns well with our strategic growth initiative to strengthen and expand our portfolio,” said IFF Chairman and CEO Andreas Fibig. “The Company has a successful track record of delivering double-digit compounded annual sales growth since 2011 in a very attractive industry. We believe they will be an excellent complement to our existing portfolio and will strengthen our ability to achieve our Vision 2020 goals of accelerated growth and increased differentiation.”
Under the terms of the offer, IFF will pay approximately €283 million. The transaction, which will be funded from existing resources, is expected to add revenues of approximately €40 million on an annualized basis.
Most read news
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
Last viewed contents

Emergence of a “devil’s staircase” in a spin-valve system

Researchers develop concept for rational design of important nitrogen compounds - Young Bayreuth scientists give names to new classes of substances

Electric vehicle charging in just six minutes? - Electron spin: The game changer for faster charging, higher capacity batteries

Novel superconducting undulator provides first X-ray light at ANKA - Successful installation and testing of high-performance superconducting undulator SCU15
Air Liquide increases its hydrogen production capacity in France to enable Innovene to produce clean fuels
Lyondell Announces Plans to Build One-Step Direct Oxidation Propylene Oxide Pilot Plant

Hunting out hidden hydrogen: novel holey nanosheets for detecting hydrogen gas leaks - Scientists develop hydrogen sensors with holey zinc oxide "nanosheets" to prevent accidents from hydrogen gas leaks
