Amyris, a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, announced that it has executed a binding term sheet for the acquisition of Gen Z-focused beauty brand EcoFabulous Cosmetics.
WHO: EcoFabulous, founded by Marissa Shipman, is focused on delivering high-performance, makeup artist-quality beauty products that are clean, sustainable, and priced for Gen Z consumers. Marissa previously founded Balm cosmetics, which became her first successful global color beauty line.
Amyris is a science and technology leader in the research, development, and production of sustainable ingredients for the Clean Health and Beauty and Flavors & Fragrances markets. Amyris uses an array of exclusive technologies, including state-of-the-art machine learning, robotics, and artificial intelligence. Their portfolio of consumer brands includes Biossance, Pipette, Rose Inc., JVN, Terasana, and Costa Brazil.
WHY: The acquisition furthers Amyris’s growth and market leadership in clean beauty and complements Amyris’s family of consumer brands.
IN THEIR OWN WORDS: “I am passionate about building beauty products that deliver real performance for the beauty consumer and make no compromise with respect to clean ingredients and packaging because there is no planet B,” said Marissa. “EcoFabulous is my latest brand innovation and I am looking forward to partnering with the Amyris team to accelerate our growth. I see an exciting future leveraging the opportunities that Amyris’s depth in sustainable ingredients brings to our brand.”
“We are very excited to be adding a Gen Z-focused offering to our portfolio,” said John Melo, President and Chief Executive Officer of Amyris. “Marissa’s track record of beauty brand innovation speaks for itself and she has done an incredible job building a well-positioned cosmetics brand in EcoFabulous. Our brands are powered by our leading science and ingredients portfolio that deliver the best performing products in clean beauty and make our planet healthier. We have invested approximately $12 million in acquiring and developing new brands this year, mostly funded with Amyris equity. The new brands are estimated to represent 20% of consumer revenue this year. Our direct-to-consumer sales continues to experience excellent growth and we are now experiencing better than pre-COVID sales growth with our retail store partners.”
DETAILS:
