IFF Announces Clariant Has Agreed to Purchase IFF’s Cosmetic Ingredients Business Unit
“Consistent with our announcement during our second-quarter earnings, we are executing our portfolio optimization strategy to strengthen our capital structure,” said IFF CEO
IFF’s Cosmetic Ingredients business unit includes the Lucas Meyers Cosmetics and IBR brands and operates six research and development and/or production sites globally. With about 195 employees, IFF’s Cosmetic Ingredients business unit has more than 2,900 customers in over 80 countries and generated approximately
IFF and Clariant expect to close the transaction in the first quarter of 2024, subject to applicable works council consultations and customary closing conditions, including regulatory clearances.
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains “forward-looking statement” within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the transaction and the expected timetable for completing the transaction. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.
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