PARIS — Swiss chemicals company Clariant has agreed to accumulate Lucas Meyer Cosmetics, maker of high-value lively and functional cosmetics ingredients, from International Flavors and Fragrances for $810 million.
The deal is reminiscent of a 16.3-times multiple, based on Lucas Meyer Cosmetics’ earnings before interest, taxes, depreciation and amortization reported in August 2023. The transaction is anticipated to shut in the primary quarter of 2024.
“The proposed acquisition of Lucas Meyer Cosmetics marks one other major step forward for Clariant’s purpose-led growth strategy. It can strengthen our position as a real specialty chemical company, our exposure toward consumer markets and our footprint in North America, while supporting our goal to speed up customer- and sustainability-driven innovation,” Conrad Keijzer, chief executive officer of...
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