LANXESS AG, a German-based specialty chemicals company with its North America headquarters in Pittsburgh, recently agreed to purchase International Flavors & Fragrances’ microbial control business for $1.3 billion.
IFF Microbial Control is a supplier of antimicrobial active ingredients and formulations that are used in a wide range of applications including paints and coatings, industrial water treatment, and personal care and household products. Its formulations extend the life of products and ensure they remain germ-free for a longer time.
“The business fits ideally into our strategic direction — specialty chemicals with attractive margins, applications in a wide range of industries and with a global positioning,” Matthias Zachert, LANXESS chairman of the board of management, said. “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.”
The IFF microbial control business has annual sales of approximately $450 million. It has approximately 270 employees working at production facilities in West Virginia and Louisiana.
The deal is subject to regulatory approval and is expected to close during the second quarter of 2022.