IFF-Lucas Meyer Cosmetics has acquired Speximo AB, a Swedish technology company that focuses on stabilization and encapsulation for personal-care and cosmetics products.
Speximo has patented technology that was developed out of research at Lund University in Sweden. The company’s stabilization and encapsulation techniques are meant to protect active ingredients and enhance the product texture of creams, powders and sprays used in the beauty industry. The business works to align its offerings with U.N. sustainable development goals and takes into account the “ethical aspects” of raw materials, production and consumption, according to a statement from IFF.
“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 chief executive officer, in a statement. “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, the president and chief executive officer of IFF said that the deal should give the company an advantage because of its “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,” Lara said in a statement.
IFF has spent the past few years bulking up its services in cosmetics and naturals, and has made several acquisitions to further its offerings. In 2015, the company bought Lucas Meyer Cosmetics, a Canadian cosmetics ingredient business. In 2018, IFF bought Frutarom, which specializes in natural ingredients.
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