IFF-Lucas Meyer Cosmetics expands raw material access with investment in Bio ForeXtra

US firm International Flavors & Fragrances (IFF) subsidiary IIF-Lucas Meyer Cosmetics (IFF-LMC) has invested in Canada-based research and development (R&D) laboratory Bio ForeXtra to expand its access to raw material for its cosmetic actives business.

Bio ForeXtra is engaged in the development of active cosmetic and botanical extracts.

IFF chairman and CEO Andreas Fibig said: “This investment is aligned with our Vision 2020 business strategy pillar of strengthening and expanding our portfolio.

“We can create differentiation in the cosmetic actives business by providing unique benefits to consumers, which is increasingly important in a highly competitive market.

“We believe the access we will gain to sustainably sourced extracts from the Boreal Forest of Canada will provide us with a competitive edge.”

In 2015, IFF acquired Lucas Meyer Cosmetics from Unipex Group for €283m to expand its operations in France and Australia.

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

The firm also offers active ingredients, functional ingredients and delivery systems for customer in the beauty industry.

Employing over 6,200 people across 32 countries worldwide, IFF offers flavours 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.

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Image:International Flavors and Fragrances headquarters in New York City, US. Photo: courtesy of Americasroof / Wikipedia.