International Flavors & Fragrances-Lucas Meyer Cosmetics (IFF-LMC) invested in Canadian R&D company, Bio ForeXtra, which specializes in cosmetic active ingredients and botanical extracts. The investment is intended to expand availability for cosmetic active raw materials for IFF-LMC.
Lucas Meyer Cosmetics was acquired by IFF in 2015 and is headquartered in Quebec City, Canada with other operations in France and Australia. The company develops, manufactures and markets ingredients for the cosmetics and personal care industry. Also, it offers functional active ingredients addressing health and wellness trends in the cosmetic and personal care industry.
Andreas Fibig, IFF’s chairman and CEO, said, “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.”