IFF to Expand into Cosmetics Ingredients
Makes Binding Offer for the Acquisition of Lucas Meyer Cosmetics
Lucas Meyer Cosmetics, headquartered in
“The addition of Lucas Meyer Cosmetics to the IFF portfolio aligns well
with our strategic growth initiative to strengthen and expand our
portfolio,” said IFF Chairman and CEO
“This acquisition would combine our fragrance expertise, global
commercial network, leadership in natural ingredients, and unique R&D
pipeline with Lucas Meyer Cosmetics’ research and cosmetics ingredients
innovation,” added
“We believe IFF is the preferred partner for Lucas Meyer Cosmetics’
future development while preserving the continuity of the world-class,
innovative and market-driven cosmetic ingredient expertise built over
the years by our dedicated and loyal employees,” said
Under the terms of the offer, IFF will pay approximately €283 million. The transaction, which will be funded from existing resources, is expected to add revenues of approximately €40 million on an annualized basis.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including IFF’s expectations and beliefs (i) that its binding offer will
be accepted, (ii) regarding the timing of the closing of the
acquisition; (iii) that the acquisition, if consummated, will accelerate
IFF’s growth and increase its differentiation, (iv) regarding the impact
of the acquisition, if consummated, on IFF’s future financial and
operational results including its future product offerings and (v)
regarding the future growth of the cosmetics and personal care industry
and statements containing the words such as “anticipate,” “approximate,”
“believe,” “plan,” “estimate,” “expect,” “project,” “could,” “should,”
“will,” “intend,” “may” and other similar expressions. Such
forward-looking statements are inherently uncertain, and stockholders
and other potential investors must recognize that actual results may
differ materially from IFF’s expectations as a result of a variety of
factors, including, without limitation, the risks discussed below and
those set forth in IFF’s Annual Report on Form 10-K and its other
filings with the
These statements involve risks and uncertainties related to IFF’s acquisition of Lucas Meyer Cosmetics include, but are not limited to, (i) whether Lucas Meyer Cosmetics will accept the offer and execute a binding purchase agreement, (ii) the ability and willingness of both parties to satisfy the conditions precedent and to close the transaction in the expected timeframe, (iii) the inability to obtain, or delays in obtaining, cost savings and synergies from the acquisition, (iv) costs and difficulties related to the integration of Lucas Meyer Cosmetics with IFF businesses and operations, (v) unexpected costs or liabilities, resulting from the acquisitions, (vi) the inability to retain key personnel, (vi) potential adverse reactions, changes to business relationships or competitive responses resulting from the acquisition, (vii) the ability of IFF to recognize the anticipated financial and operational benefits of the acquisition and (viii) other macroeconomic factors that could impact the growth of the cosmetics and personal care industry.
IFF disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.
About IFF
View source version on businesswire.com: http://www.businesswire.com/news/home/20150612005356/en/
Source:
International Flavors & Fragrances Inc.
Michael DeVeau,
212-708-7164
VP, Global Corporate Communications & Investor
Relations
Michael.DeVeau@iff.com
or
Denise
Gillen, 212-515-7308
Manager, Fragrances Communications
Denise.Gillen@iff.com