International Flavors & Fragrances Announces Cosmetic Expansion

International Flavors & Fragrances Inc. announced on Friday that it plans to expand into cosmetic ingredients in a $317 million binding offer to purchase Lucas Meyer Cosmetics. The acquisition is expected to close the third quarter of 2015. IFF is one of the largest providers of flavorings, ingredients and fragrances for consumer products, including food, globally. Consumer demand for fresh, discernable ingredients in food has offered creative challenges across the food industry.