In Finance

IFF-Lucas Meyer Cosmetics has acquired 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.

WHO: Speximo’s technology platform supports the creation of creams, powders, and sprays used in personal care and cosmetics while protecting active ingredients and enhancing texture. The patented technology developed from research at the prestigious Lund University in Sweden from quinoa grains is both natural and sustainable. The company strives to align with the UN’s sustainable development goals (SDGs) and considers the ethical aspects of raw materials, production, and consumption.

IFF is an American corporation producing flavors and fragrances and cosmetic actives, which it markets globally. It is headquartered in New York City and has creative, sales, and manufacturing facilities in 35 different countries.

WHY: IFF has expanded its services in cosmetics and naturals over the last four years through several acquisitions to further its offerings. The Speximo acquisition furthers that strategy.

IN THEIR OWN WORDS: “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.”

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.”

DETAILS: 

  • IFF-Lucas Meyer Cosmetics has acquired Swedish technology company Speximo AB.
  • In 2018, IFF acquired natural ingredients supplier Frutarom.
  • In 2015, IFF acquired Canadian cosmetics ingredient business Lucas Meyer Cosmetics.

Photo: Sumner Mahaffey vis Unsplash

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