Page 163 - CW E-Magazine (14-11-2023)

News from Abroad

COSMETIC INGREDIENTS

Clariant to buy Lucas Meyer Cosmetics from IFF

for $810-mn

Swiss speciality chemicals com- Lucas Meyer Cosmetics, founded
pany, Clariant, has agreed to acquire in 1999 and headquartered in Québec,
the cosmetics ingredients business Canada, boasts of strong financial per-
of US-based International Flavors & formance with around $100-mn of
Fragrances (IFF), including the Lucas revenues and highly attractive profita-
Meyer Cosmetics brand for a total cash bility. The business is also highly cash
consideration of $810-mn. generative due to its asset-light model
and outsourced production. Clariant
Reporting through IFF’s scent divi- said the deal will help further transform
sion, IFF’s cosmetic ingredients busi- its portfolio towards “high-growth,
ness unit develops, manufactures and to enable value creation and profitable high-margin and highly cash genera-
markets ingredients for the cosmetic and growth,” said Mr. Conrad Keijzer, Chief tive specialty chemicals businesses and
personal care industry, including active Executive Officer of Clariant. consumer end-markets underpinned by
ingredients, functional ingredients and accelerating demand for natural and
delivery systems, primarily through “Lucas Meyer Cosmetics repre- sustainable products.” It will increase
the Lucas Meyer Cosmetics brand. sents a significant, exciting growth Clariant’s exposure to the active and
The business unit includes the Lucas opportunity for Care Chemicals. It is functional cosmetic ingredients market
Meyers Cosmetics and IBR brands and a perfect fit with our business, given and strengthen its North America pre-
operates six research and development the complementarity of our customers sence in the Care Chemicals business
and/or production sites globally. “By and products. Combining our respec- unit. IFF said the proceeds from the
combining our personal care ingredients tive strengths, including the R&D and proposed transaction will be used to
portfolio with Lucas Meyer Cosmetics, innovation capabilities of Lucas Meyer reduce outstanding debt.
Clariant will become a leader in the high Cosmetics, backed by a strong brand,
value cosmetic ingredients space, one will enable us to deliver a strong in- “Aligned with our best-owner mind-
of the most attractive, profitable, and crease in annual sales to $180-mn in set, the proposed sale of our Cosmetic
fastest-growing speciality chemicals 2028 from around $100-mn currently,” Ingredients business to Clariant will
markets. With this step, we will build added Mr. Christian Vang, President of allow us to focus on our core businesses,
on our successful track record of pursu- the Clariant Business Unit Care Chemi- maximising growth and returns,” said
ing and integrating bolt-on acquisitions cals and the Americas region. IFF’s CEO, Mr. Frank Clyburn.
Evonik crosslinkers production site in US gets

sustainability certification

Evonik’s site in Mobile, Alabama Using acetone made
(USA), has been awarded the ISCC from renewable bio-circu-
PLUS sustainability certificate for its use lar materials derived from
of renewable acetone in the production industrial waste like used
of isophorone-based products. The cooking oils integrated with
accreditation of the site at Mobile allows existing feedstocks, enables
Evonik to produce and market its renew- Evonik to provide the only
able isophorone-based, Vesta eCO series renewable isophorone plat-
in the US for the first time. European form of isophorone, isophoro-
production started in 2022 following the nediamine and isophorone
Herne, Germany crosslinkers production diisocyanate products on the
site’s certification. market.

Chemical Weekly November 14, 2023 163

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