Lanxess completes acquisition of IFF’s microbial control business
Specialty chemicals company Lanxess has completed the acquisition of the microbial control business unit of the U.S. group International Flavors & Fragrances (IFF).
With the closing of the transaction which was announced in August 2021, Lanxess has become 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 United States. Lanxess paid a preliminary purchase price of approximately EUR1.3 billion for the acquisition.
Portfolio for both wet- and dry-state preservation
With the closing of the transaction, Lanxess adds two production sites to its network in St. Charles, Louisiana, and Institute, West Virginia, both in the United States. The new business will be integrated into the Material Protection Products business unit of Lanxess. According to company information, the Lanxess products together with the newly acquired brands form one of the broadest portfolios for paints and coatings, construction materials, wood preservation, leather and plastics for both wet- and dry-state preservation.
“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,” said 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.”
