IFF Announces Clariant Has Agreed to Purchase IFF’s Cosmetic Ingredients Business Unit
IFF (NYSE: IFF) today announced that Clariant—a sustainably focused specialty chemical company—has agreed to purchase IFF’s Cosmetic Ingredients business unit for $810 million.
- IFF (NYSE: IFF) today announced that Clariant—a sustainably focused specialty chemical company—has agreed to purchase IFF’s Cosmetic Ingredients business unit for $810 million.
- Reporting through IFF’s Scent division, IFF’s Cosmetic Ingredients business unit develops, manufactures and markets innovative ingredients for the cosmetic and personal care industry, including active ingredients, functional ingredients and delivery systems, primarily through the Lucas Meyer Cosmetics brand.
- “Aligned with our best-owner mindset, the proposed sale of our Cosmetic Ingredients business to Clariant will allow us to focus on our core businesses, maximizing growth and returns.
- We are convinced that Clariant is the best owner for the Cosmetic Ingredients business and with an ability to invest, will offer the business and our colleagues a bright future.”
IFF’s Cosmetic Ingredients business unit includes the Lucas Meyers Cosmetics and IBR brands and operates six research and development and/or production sites globally.