Lanxess has signed a corresponding agreement to acquire the microbial control business of International Flavors & Fragrances (IFF) for $1.3 billion or 9.6x EBITA. The deal should be completed in Q2 2022, following a carve-out process and subject to regulatory approvals. This is the firm’s second largest ever buy, just ahead of the recently completed acquisition of Emerald Kalama.

Lanxess has signed a binding agreement to acquire Emerald Kalama Chemical from private equity firm American Securities for €867 million. The deal, which will be financed from existing liquidity, should be completed in Q2, subject to approval by the relevant authorities.