IFF and its affiliate Lucas Meyer Cosmetics has announced the acquisition of Swedish technology company Speximo AB in a bid to better cater to consumers seeking eco-friendly products.
The company focuses on the creation of next generation stabilization and encapsulation products for use in the development of sustainable personal care and cosmetic products. Its technology is developed from quinoa grains.
Nicolas Mirzayantz, IFF
Scent Division CEO, said, “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.
“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.”
With its technology supporting the creation of creams, powders and sprays used in personal care and cosmetics, Speximo aims to align with the UN’s sustainable development goals (SDGs), considering the ethical aspects of raw materials, production and consumption.
Antonio Lara, President
& CEO, IFF-Lucas Meyer Cosmetics, said, “Bringing Speximo’s highly regarded
technologies and intellectual property in-house will give IFF-LMC a competitive
advantage in the marketplace with their 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. We look forward to welcoming Speximo to the IFF family.”