December 1, 2023

Sustainability-focused chemicals company Clariant is set to acquire Canadian ingredients company Lucas Meyer Cosmetics from International Flavors & Fragrances (IFF) for a total consideration of $810m (€767m/CHF 720m).

The deal is subject to regulatory approvals and customary closing conditions and is expected to finalise in Q1 2024.

Clariant said that the proposed transaction will help expand its reach into high-value cosmetic ingredients space and “transform its portfolio towards high-growth, high-margin and highly cash-generative specialty chemicals businesses and consumer end-markets underpinned by accelerating demand for natural and sustainable products.”

The move will increase Clariant’s exposure to the active and functional cosmetic ingredients market and strengthen its North America presence in the Care Chemicals business unit.

Clariant CEO’s Conrad Keijzer said: “The proposed acquisition of Lucas Meyer Cosmetics marks another major step forward for Clariant’s purpose-led growth strategy. It will strengthen our position as a true specialty chemical company, our exposure towards consumer markets, and our footprint in North America, while supporting our goal to accelerate customer- and sustainability-driven innovation. In addition, Lucas Meyer Cosmetics brings a highly experienced leadership team with an excellent track record.”

He continued: “By combining our personal care ingredients portfolio with Lucas Meyer Cosmetics, Clariant will become a leader in the high value cosmetic ingredients space, one of the most attractive, profitable, and fastest-growing specialty chemicals markets. With this step, we will build on our successful track record of pursuing and integrating bolt on acquisitions to enable value creation and profitable growth.”


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