IK Investment Partners receives binding offer from New York-based International Flavors & Fragrances Inc. to acquire Lucas Meyer Cosmetics (unit of the Unipex Group).
On June 15, Willkie client IK Investment Partners, the European private equity firm, announced that it has received a binding offer from New York-based International Flavors & Fragrances Inc. to acquire Lucas Meyer Cosmetics, the Canadian suppler of ingredients for the beauty industry (and a unit of the Unipex Group), for €283 million.
On the basis of the binding offer received from IFF, Unipex Group will consult the French works council within the group on the merits of entering into a definitive agreement. The transaction is expected to close in the third quarter of 2015 and is subject to exclusivity protection.
Lucas Meyer Cosmetics develops, manufactures and markets on a global scale innovative ingredients for the cosmetics and personal care industry. Listed on the NYSE, IFF employs 6,200 employees in 32 countries and has a market capitalization of $9 billion. IK is a pan-European private equity firm focused on investments in the Nordics, DACH region, France and Benelux. Since 1989, IK Funds have raised more than €7 billion of capital and invested in close to 90 European companies.
Earlier in June, Willkie represented IK in its agreement to acquire Cérélia Group. The current deal was handled by a multidisciplinary Willkie team led by partner Eduardo Fernandez and including partner David Tayar, special European counsel Jeffrey Fouts and Philippe Grudé and associates Elise Carrera, David Lambert and Dounia Ababou.