Leading synthetic biotechnology company Amyris announced that it has executed a binding term sheet for the acquisition of award-winning, clean wellness company Olika.
WHO: Olika, which means "differently" in Swedish, was founded in 2017 and is transforming the hygiene category through a dedication to transparency, combining the safest, most effective ingredients packaged in beautiful, nature-inspired design. The brand currently offers three sustainable hand sanitizer collections with six essential oil fragrances. Olika was the brainchild of Nic and Thorne Perkin. In 2019, the Perkins entrusted Alastair Dorward to expand and enhance the Olika brand, increase revenue, and develop the portfolio of products.
WHY: The acquisition furthers Amyris's growth and market leadership in clean health and beauty, and complements Amyris's family of consumer brands. Their portfolio of consumer brands includes Biossance, Pipette, Rose Inc., JVN, Terasana, Costa Brazil, and Ecofabulous.
IN THEIR OWN WORDS: "It's an honor and a privilege to spend the last 25 years building high-growth, clean and sustainable brands," said Dorward. "Driving innovation within the food, household, personal care and beauty categories is my life's work. The latest journey with Olika transformed the hygiene category with a more desirable consumer experience. We are thrilled to accelerate the Olika mission with Amyris's visionary clean beauty platform and invaluable pipeline of proprietary ingredients."
"We are pleased to welcome the Olika brand and team to our consumer portfolio," said John Melo, President and Chief Executive Officer of Amyris. "The addition of Olika alongside Pipette, our baby, mother and family brand, provides us with a great opportunity to expand our offering and lead the sector in clean hand sanitizing and household cleaning products. We continue to take our proprietary lab-to-market science and technology direct to the consumer by combining our best-in-class natural, sustainably-sourced ingredients with distinctive consumer-inspired brands," continued Melo. "At Amyris, we continue to deliver on our ability to translate science into applications and products that are loved by consumers and that enable the transition of many industries to sustainable chemistry. We are excited to continue expanding our sector leadership and accelerating making the planet a healthier place for all."
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