Clariant, a Swiss specialty chemicals company focused on sustainable development, announces the completion of the acquisition of Quebec-based Lucas Meyer Cosmetics, a leading supplier of high-value ingredients to the cosmetics and personal care industry, from US group IFF for an enterprise value of $810 million.
"The acquisition of Lucas Meyer Cosmetics is an excellent example of how we are implementing our targeted growth strategy and supporting our goal of accelerating customer-focused innovation and sustainabilitysaid Conrad Keijzer, Managing Director of Clariant. The complementary customer portfolio, product portfolio, and regional strongholds, as well as R&D and marketing capabilities make the combination of Clariant and Lucas Meyer Cosmetics a leading solutions provider for high value-added personal care brands."
"I see the acquisition of Lucas Meyer Cosmetics as a significant step forward for Care Chemicals. Customers and consumers are increasingly demanding high-value natural ingredients.added Christian Vang, President of Clariant's Care Chemicals business unit and of the Americas region. I extend a warm welcome to 190 highly qualified professionals who will become our new colleagues at Clariant. Together we look forward to exciting growth opportunities and plan to increase annual sales to $180 million by 2028, from around $100 million today."
With this acquisition, Clariant shifts its focus to high-growth, high-margin, cash-generative specialty chemicals and consumer end-markets, driven by accelerating demand for natural and sustainable products. Clariant's exposure to the market for active and functional cosmetic ingredients is thus increased. via its Care Chemicals business unit.
Lucas Meyer Cosmetics joined the Care Chemicals business unit on April 2, 2024.
Clariant will be present at in-Cosmetics Global Paris, April 16-18, 2024.
Visual extract from Clariant's Linkedin profile.
