uploads///Part  CHEM IFF

IFF-Lucas Meyer Cosmetics Acquires Sustainable Ingredients

By

Dec. 10 2018, Updated 11:15 a.m. ET

IFF-LMC to strengthen its product portfolio

On December 4, the subsidiary of International Flavors and Fragrances (IFF), IFF-Lucas Meyer Cosmetics announced that it acquired three personal care ingredients and intellectual property rights from Kemin Industries—an ingredient manufacturer of food and health-related products. Acquiring Lysofix, XFoliPEARL, and MicrCurb ingredients should strengthen the IFF-LMC product portfolio. However, International Flavors and Fragrances didn’t disclose the deal’s financial aspects.

Article continues below advertisement

Antonio Lara, the president and CEO of IFF-Lucas Meyer Cosmetics, said, “Aligned with IFF and IFF-LMC’s commitment to sustainability and natural product offerings, I am thrilled to announce the addition of these key, responsibly sourced ingredients to our growing and increasingly diverse portfolio. Consumers are more aware than ever of the impact their choices have on the environment, so including these compelling active and functional products in our line is a win for our customers, consumers, and the planet.”

Stock performance

International Flavors and Fragrances stock fell 3.3% and closed at $137 for the week ending December 7. Despite the decline in the stock price, International Flavors and Fragrances traded marginally above its 100-day moving average price of $136.23. The company’s 100-day moving average price increased from $128.88 to the current level in the past three months, which indicates an upward trend in the stock.

On a year-to-date basis, International Flavors and Fragrances stock has declined 10.2%. Sensient Technologies (SXT) has declined 18.0%, while Clorox (CLX) and Estée Lauder (EL) have gained 9.2% and 7.8%, respectively.

Analysts expect International Flavors and Fragrances’ target price to be $149.90, which implies a return potential of 9.4% over the closing price on December 7.

Investors looking for indirect exposure to International Flavors and Fragrances could consider the Invesco S&P 500 Equal Weight Materials ETF (RTM), which invested 4.7% of its portfolio in the company as of December 7.

Advertisement

More From Market Realist

  • MP Materials mine
    Basic Materials
    MP Materials (MP) Is an Attractive Play on Rare Earths
  • Woman looking at data
    Basic Materials
    Should You Buy SLV Stock Before Another Silver Short Squeeze?
  • Freeport-McMoRan employee at a facility
    Basic Materials
    FCX Stock Is a Good Buy for Investors as Copper Prices Top $10,000
  • Alcoa logo
    Basic Materials
    Alcoa (AA) or CENX: Picking the Best Aluminum Stock
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.