U.S. scent maker IFF acquires Sweden's Speximo
IFF-Lucas Meyer Cosmetics announced on Tuesday the acquisition of Speximo AB, a Swedish technology company focused on stabilization and encapsulation for sustainable personal care and cosmetic products.
Speximo’s patented technology, developed from research at the prestigious Lund University in Sweden, supports the creation of creams, powders and sprays used in personal care and cosmetics by protecting active ingredients and by enhancing texture.
The business also resonates with the industry's current focus on sustainability by working to align with the UN sustainable development goals (SDGs) and by considering the ethical aspects of raw materials, production, and consumption.
“It is critical that in our quest for innovation, we find products and technologies that align with and support our purpose – to redefine and transform how we live in and care for the resources of our world,” said Nicolas Mirzayantz, IFF Scent Division CEO, in a news statement.
“With Speximo’s focus on sustainability, this acquisition fills that need and helps us support our customers’ efforts and consumer desire for products with a greener profile.”
IFF-LMC is hoping the deal will give the company a competitive advantage in the marketplace thanks to its sustainable ingredients.
“Bringing Speximo’s highly regarded technologies and intellectual property in-house will give IFF-LMC a competitive advantage in the marketplace with their sustainable multifunctional emulsifiers and texturing ingredients. Both are derived from nature and biodegradable, allowing our customers to formulate environmentally friendly transformative textures that can have a great impact on the consumer experience. We look forward to welcoming Speximo to the IFF family,” explained Antonio Lara, President & CEO.
IFF acquired Lucas Meyer Cosmetics, a business of Unipex Group, in 2015. Last year, it also agreed to buy Israeli flavours and ingredients maker Frutarom for $7.1 billion.
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