International Flavors & Fragrances (New York) has signed an agreement to acquire Laboratoire Monique Remy (LMR), a manufacturer of raw materials for fragrances and flavors, and its affiliated companies. Founded in Grasse, France in 1984 by Monique Remy, LMR operates a laboratory and manufacturing facility in Grasse and an extraction plant in Lozere, in central France.
The acquisition is a key element in IFF's long-term strategy to strengthen its position in the development and use of natural ingredients. In addition to adding a number of new and important natural materials to its portfolio, LMR will enhance IFF's global research and development program for natural products.
The acquisition is expected to be completed by the end of April 2000. Remy will continue to head LMR and will assume a role in the IFF worldwide R&D effort. IFF plans to make the LMR facility in Grasse a key resource for training its global creative team and for sharing new developments with customers.
Edited by Scott Hegenbart