Fragrance maker International Flavors & Fragrance (IFF) Lucas Meyer Cosmetics has announced an investment into Canada-based R&D laboratory Bio ForeXtra.
The company specializes in the development of active cosmetic and botanical extracts and is said to expand IFF-LMC’s access to raw materials for its cosmetic actives business.
Andreas Fibig, IFF’s Chairman and CEO said, “This investment is aligned with our Vision 2020 business strategy pillar of Strengthening and Expanding our Portfolio.
“We can create differentiation in the cosmetic actives business by providing unique benefits to consumers, which is increasingly important in a highly competitive market. We believe the access we will gain to sustainably sourced extracts from the Boreal Forest of Canada will provide us with a competitive edge.”
Lucas Meyer Cosmetics was acquired by IFF in 2015 and, according to the company, ‘develops, manufactures and markets innovative ingredients for the cosmetics and personal care industry, offering proprietary active ingredients, functional ingredients and delivery systems that address health and wellness macro-trends in the beauty industry in both the developed and emerging markets.’