IFF Enters Cosmetic Actives

Continuing a trend in which large cosmetic ingredient suppliers acquire niche active ingredient makers, International Flavors & Fragrances has made a binding offer to buy Lucas Meyer Cosmetics for about $315 million. The two expect to close on the deal by the end of the third quarter. Whereas IFF is well-known for the scents it supplies for fine fragrances and cosmetics, Meyer will bring high-end actives, such as antiaging ingredients, for skin and hair care products. Including natural extracts and ingredient delivery systems, Meyer has annual revenues of $45 million. Others that have delved deeper into cosmetic actives in recent years include Lubrizol, Croda, and Air Products, which, respectively, acquired Active Organics, Istituto di Ricerche Biotecnologiche, and Rovi Cosmetics International. IFF says the acquisition will combine its own fragrance, natural ingredients, and R&D pipeline with Meyer’s research and personal care ingredient innovations. For its part, Meyer says the deal will help it reach customers in emerging markets, where IFF has a strong presence.