Specialty chemicals company LANXESS completed its acquisition of the microbial control business unit of the U.S. group International Flavors & Fragrances Inc. (IFF).
With the closing of the transaction, LANXESS becomes one of the world’s largest suppliers of microbial control products. The specialty chemicals company is significantly increasing its portfolio of antimicrobial active ingredients and formulations for material protection, preservatives and disinfectants and is strengthening its global presence, especially in the U.S. LANXESS paid a preliminary purchase price of approximately $1.3 billion for the acquisition.
“With this acquisition we receive another major boost for our Consumer Protection segment. It will soon become our strongest segment and is thus an important engine on the way to make LANXESS even more stable and profitable,” says Matthias Zachert, Chairman of the Board of Management of LANXESS AG. “We are pleased to have more than 250 highly qualified new employees and are now focusing all our efforts on rapidly integrating the newly acquired business.”
LANXESS adds two production sites to its network in St. Charles, Louisiana, and Institute, West Virginia. The new business will be integrated into the Material Protection Products business unit of LANXESS.