IFF to acquire Lucas Meyer Cosmetics

Flavor and fragrances company International Flavors & Fragrances (IFF) has reached a binding purchase agreement to acquire Canada-based Lucas Meyer Cosmetics.

Unipex Group’s business Lucas Meyer Cosmetics has operations in France and Australia.

Lucas Meyer develops and manufactures ingredients including active ingredients, functional ingredients and delivery systems for the cosmetics and personal care industry.

Its ingredients are said to address health and wellness macro-trends in the beauty industry in both the developed and emerging markets.

The acquisition is expected to be completed in the third quarter of 2015.

IFF Fragrances group president Nicolas Mirzayantz previously said: "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.

"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. We’re looking forward to welcoming Lucas Meyer Cosmetics’ employees to IFF."

IFF employs over 6,200 people across 32 countries worldwide.

The company offers flavors and fragrances for use in a wide range of consumer products such as fine fragrances and beauty care, detergents and household goods, as well as beverages, sweet goods and food products.