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By TT News| Aug 26, 2021

Lanxess To Acquire Microbiol Control Business Of IFF

Lanxess has signed an agreement with theInternational Flavors & Fragrances Inc. (IFF) for the acquisition of IFF’s microbial control business which will be integrated into the former’s Material Protection Products business unit.

Lanxess will pay around USD 1.3 billion for the acquisition which is expected to be completed in Q2 of 2022.

The IFF Microbial Control is one of the leading suppliers of antimicrobial active ingredients and formulations, and it represents sales of around USD 450 million and EBITDA of approximately USD 100 million. Within four years after the closing of the transaction, Lanxess expects synergies to add approximately USD 35 million in EBITDA.

Matthias Zachert, Chairman of the Board of Management, Lanxess AG, said, “In 2021, all signs are pointing to growth. The acquisition of IFF Microbial Control is already the fourth this year and Lanxess’ second-largest ever. The business fits ideally into our strategic direction – speciality chemicals with attractive margins, applications in a wide range of industries and a global positioning. It will make Lanxess one of the world’s largest suppliers of microbial control products. At the same time, we are enhancing consumer protection to become the strongest segment in the Group and are once again taking Lanxess a decisive step forward in terms of profitability and stability.” (TT)

 

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