IFF-Lucas Meyer Cosmetics Acquires Speximo AB
NEW YORK, N.Y., (September 17, 2019) – IFF (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of scent, taste, and nutrition, and its affiliate, IFF-Lucas Meyer Cosmetics (IFFLMC), have announced and completed the acquisition of Speximo AB, a Swedish technology company focused on developing next generation stabilization and encapsulation products for use in the development of sustainable personal care and cosmetic products with potential multiple commercial application areas. Speximo’s patented technology was developed from research at the prestigious Lund University in Sweden.
“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. “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.”
Speximo’s unique technology platform supports the creation of creams, powders and sprays used in personal care and cosmetics. The technology also protects active ingredients and enhances texture. Developed from quinoa grains, the technology is both natural and sustainable. With sustainability top of mind in many markets globally, Speximo’s unique technology strives to align with the UN sustainable development goals (SDGs) and considers the ethical aspects of raw materials, production, and consumption.
Antonio Lara, President & CEO, IFF-Lucas Meyer Cosmetics, said, “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.”
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Head of Investor Relations and Communications & Divisional CFO, Scent