Investment

IFF to Sell Cosmetics Ingredients Unit to Clariant for $810M

1 Mins read

By Ben Otto


Swiss chemicals company Clariant AG will buy a cosmetic ingredients unit of International Flavors & Fragrances Inc. for $810 million.

New York-based IFF said Monday that it would use proceeds from the deal to reduce debt, consistent with previously announced plans to strengthen its capital structure.

The deal “will allow us to focus on our core businesses, maximizing growth and returns,” said IFF Chief Executive Frank Clyburn. “We are convinced that Clariant is the best owner for the Cosmetic Ingredients business and with an ability to invest, will offer the business and our colleagues a bright future.”

The IFF business unit develops ingredients for the cosmetic and personal care industry, and includes brands Lucas Meyers Cosmetics and IBR. It generated about $100 million in revenue in the past year and operates a mix of six research and development and production sites globally, IFF said.

The deal is expected to close in the first quarter of 2024.


Write to Ben Otto at [email protected]


Read the full article here

Related posts
Investment

Opinion: The top 10% of Americans are propping up the economy. Here’s what will happen if they stop spending. 

1 Mins read
Outside the Box The wealthy are spending, but many consumers are pulling back — and the stock market is fragile Last Updated:…
Investment

AMC’s most liquid bond is rallying following the movie-theater chain’s fourth-quarter results

1 Mins read
Published: Feb. 27, 2025 at 1:23 p.m. ET AMC Entertainment Holdings Inc.’s most liquid bond rallied this week, lifted by better-than-expected fourth-quarter revenue…
Investment

Okta delivers what some of its bigger peers couldn’t: a rosy outlook

1 Mins read
Last Updated: March 3, 2025 at 8:14 p.m. ETFirst Published: March 3, 2025 at 4:38 p.m. ET Not all software companies are giving upbeat…
Get The Latest News

Subscribe to get the top fintech and
finance news and updates.

Leave a Reply

Your email address will not be published. Required fields are marked *