Clariant has completed the previously announced acquisition of Lucas Meyer Cosmetics, a German-based maker of cosmetics and personal care ingredients, from IFF. The deal is based on an enterprise value of $810 million, subject to customary net debt and working capital adjustments.

Clariant has agreed to acquire Lucas Meyer Cosmetics of Québec, Canada, a supplier of cosmetics and personal care ingredients from International Flavours & Fragrances. The $810 million, 16.3 x EBITDA deal is expected to close in Q1 2024, subject to regulatory approvals and customary closing conditions.