to expand into cosmetics ingredients IFF
International Flavors & Fragrances Inc., a global creator of flavors and fragrances for consumer products, on Friday announced that it has made a binding offer for the acquisition of Lucas Meyer Cosmetics, a business of Unipex Group. 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 ingredients for the cosmetics and personal care industry.
“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.”
“This acquisition would combine our fragrance expertise, global commercial network, leadership in natural ingredients, and unique R&D pipeline with Lucas Meyer Cosmetics’ research and cosmetics ingredients innovation,” added Nicolas Mirzayantz, Group President Fragrances.
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.
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