IFF moves to acquire Lucas Meyer

By Deanna Utroske

- Last updated on GMT

IFF moves to acquire Lucas Meyer

Related tags Lucas meyer Middle east Cell

The fragrance maker bid this week to purchase Lucas Meyer and thereby squarely enter the cosmetics ingredient supply business. 

International Flavor and Fragrances, based in New York, is paying $318.7m for the Canadian personal care ingredients company, according to Allison Collins of themiddlemarket.com. And, if all goes according to plan, the acquisition will be finalized in Q3.

The smell of money
Financial analysts believe the move is well within IFF’s purview. “The company focuses on investing in acquisitions to gain access to new customers, regions and technologies,” ​writes zacks.com. “A diverse portfolio and product mix, along with new business wins, should help the company deliver solid results in the quarters ahead.​”

Last month the company acquired Henry H. Ottens Manufacturing to bolster its flavors business with further technologies and clients. And now, this latest deal “allows New York-based International Flavors to expand into skin and hair care ingredients,” ​observes Collins in her item about the acquisition.

New and improved
Lucas Meyer recently launched an ingredient called SW-7, a self-regenerative stem cell solution to be used as a component in anti-aging formulations. SW-7 promises to encourage keratinocyte.

“This mechanism…has been brought about thanks to the inclusion of stem cell science that has enabled cell-to-cell communication between the adipose-derived stem cells and the growth factor action,” ​reports Cosmetics Design​.

This is just the latest in the Lucas Meyer portfolio of 25+ anti-aging ingredients. And the company ingredient range spans exfoliants to anti-pollution, sebum regulation to sun care and more.

Global reach
The existing Lucas Meyer distribution operation serves clients in eight global regions: North America, South America, Europe, North Africa, South Africa, the Middle East, the Far East, and Oceania, according to the company site.  

Once the acquisition is complete that operation will complement IFF’s reach. “As population growth and wealth creation in the emerging markets continue to increase, our geographic portfolio…is a driving force in our aspirations as a global growth company,” ​notes the IFF strategy page.

This sort of growth plan—one that taps into emerging markets and reaches new, consumers—is common in the personal care and ingredient supply industries.

IFF explains, “strong GDP growth and a significant expansion of the middle-class consumer are expanding demand for better-flavored and fragranced consumer products. As a result, these markets are growing broadly at a high single-digit rate, significantly faster than the developed markets.”

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