Clariant takes over the whole of Lucas Meyer Cosmetics. Until now, the Canadian company was owned by International Flavors & Fragrances, but last Monday, the Swiss company Clariant, reached an agreement that reached 810 million dollars.
As reported by the French news agency Reuters, Clariant reported a decline in sales and profits in the fourth quarter.
The Swiss company's goal after taking over Lucas Meyer Cosmetics is to achieve annual sales of around $180 million. Clariant expects the deal to close in the first few months of next year.
Conrad Keijzer, the Adviser Delegated of Clariant, expects that this movement carry to the Swiss company to occupy the place of leader in the segment of manufacturers of cosmetic ingredients: "when combining our wallet of ingredients for the personal care with Lucas Meyer Cosmetics, Clariant will turn into leader of the sector of cosmetic ingredients of high value". This purchase will help to Clariant to strengthen and consolidate his presence in North America and will increase his portfolio of products.
Lucas Meyer Cosmetics is a company specialising in the manufacture of high-value cosmetic ingredients. Founded in 1999 in the Canadian city of Quebec, it currently has revenues of $100 million. Until Monday, Lucas Meyer Cosmetics was owned by the family that has owned IFF since 2015, when International Flavors & Fragrances acquired the company through Unipex Group for €283 million.
Rumours of a sale have surrounded IFF since March, when Bloomberg news agency reported this information from sources close to the flavours and fragrances manufacturer. At that time, Symrise, Givaudan and Croda were among the potential buyers.