IFF-Lucas Meyer Cosmetics Invests in Bio ForeXtra to Expand Raw Material Access
18.7.2016 20:15 | Business Wire
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, announced that IFF-Lucas Meyer Cosmetics (IFF-LMC), made a strategic investment in Bio ForeXtra, a Quebec City, Canada-based R&D laboratory, highly specialized in the development of active cosmetic and botanical extracts. The investment would expand IFF-LMC’s access to raw materials for its cosmetic actives business.
“This investment is aligned with our Vision 2020 business strategy pillar of Strengthening and Expanding our Portfolio,” said Andreas Fibig, IFF’s Chairman and CEO. “We can create differentiation in the cosmetic actives business by providing unique benefits to consumers, which is increasingly important in a highly competitive market. We believe the access we will gain to sustainably sourced extracts from the Boreal Forest of Canada will provide us with a competitive edge.”
Lucas Meyer Cosmetics, acquired by IFF in 2015, is headquartered in Quebec City, Canada, with operations in France and Australia. The Company develops, manufactures and markets innovative ingredients for the cosmetics and personal care industry, offering proprietary active ingredients, functional ingredients and delivery systems that address health and wellness macro-trends in the beauty industry in both the developed and emerging markets.
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 6,700 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com, Twitter, Facebook, Instagram, and LinkedIn.
International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
VP, Global Corporate Communications & Investor Relations
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