Clariant to purchase Lucas Meyer Cosmetics

Clariant has agreed to buy the personal care ingredient maker Lucas Meyer Cosmetics from International Flavors & Fragrances (IFF) for $810 million. The deal also includes another ingredient brand, IBR, as well as 195 employees and six research and production sites around the world. Clariant CEO Conrad Keijzer said on an Oct. 30 call with analysts that IFF’s cosmetic ingredient business had a profit margin of almost 50% on sales of $100 million in 2022. The firm aims to increase sales to $180 million by 2028. IFF bought Lucas Meyer in 2015 for $305 million. But after its 2021 merger with DuPont’s nutrition and biosciences business, IFF has been restructuring to focus on nutrition, scent, and health-care markets. It sold a microbial control business to Lanxess last year and two specialty flavoring units to private equity firms earlier this year . On the call, Keijzer said cosmetic ingredients are “one