Clariant completes acquisition of Lucas Meyer Cosmetics

Clariant announced that it has completed the acquisition of Lucas Meyer Cosmetics, a leading supplier of high-value ingredients for the cosmetics and personal care industry, from IFF for USD 810 million.

Clariant CEO Conrad Keijzer said: “The acquisition of Lucas Meyer Cosmetics is a prime example of how we are implementing a purpose-driven growth strategy and supports our goal of accelerating customer and sustainability-driven innovation. Complementarities in customer portfolio, product portfolio, regional strengths and R&D and marketing capabilities make the combination of Clariant and Lucas Meyer Cosmetics a leading solutions provider for high-value personal care brands. "

"I see the acquisition of Lucas Meyer Cosmetics as an important step forward for care chemicals. There is a growing demand from customers and consumers for high-value natural ingredients," said Christian Vang, President of Clariant's Care Chemicals and Americas Region Business Units. "I warmly welcome 190 highly qualified professionals as my new colleagues at Clariant. Together we look forward to exciting growth opportunities and expect annual sales to increase to US$180 million by 2028, from approximately US$100 million today."

The transaction further strengthens Clariant’s portfolio of active and functional cosmetic ingredients. The company said this will provide its Care Chemicals business unit with additional high-margin and cash-generating natural and sustainable specialty chemicals, which are currently in high demand. With this operation, IFF intends to reduce debt and streamline operations by focusing on its core business.