International Flavors & Fragrances (IFF), a leading global creator of flavours and fragrances, is expanding into cosmetics ingredients with the acquisition of Lucas Meyer Cosmetics, a business of Unipex Group.
IFF has made a binding offer of approximately 283 million euros.
Headquartered in Quebec City, Canada, with operations in France and Australia, Lucas Meyer Cosmetics offers active and functional ingredients that address health and wellness macro-trends in the beauty industry in both the developed and emerging markets.
“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,” said Nicolas Mirzayantz, Group President Fragrances at IFF. “This will strengthen our product offerings and enable IFF to be one of our customers’ partners of choice in the very attractive skin care and hair care segment.”
The acquisition, which will be funded from existing resources, is expected to close in the third quarter of 2015 and is expected to add revenues of approximately 40 million euros on an annualized basis.