Cargill has entered into an agreement to acquire Floratech, a leading global provider of innovative natural emollients and derivatives for beauty and personal care applications.
WHO: Floratech provides innovative botanical ingredients to formulators of stable, functional, and quality cosmetic and personal care products worldwide. Over the past 45 years Floratech has grown into a modern botanical derivative research and manufacturing center. Its Chandler, Arizona, headquarters houses a state-of-the-art manufacturing facility, quality and R&D laboratory, distribution warehouse, and consumer testing laboratory.
Cargill Beauty, Cargill’s personal care platform, addresses ingredient challenges for the cosmetic market by unleashing nature sustainably. They offer a diverse portfolio of nature-derived ingredients, an integrated and responsible supply chain, state-of-the-art research and application services.
WHY: The addition of Floratech and its industry-leading capabilities in specialty emollients and derivatives will fit squarely within its portfolio, aligns closely with Cargill’s growth strategy, and advances the capabilities of its global Beauty business.
Combining Cargill’s global supply chain and commercial capabilities with Floratech’s research capabilities and specialty ingredient portfolio creates one of the broadest portfolios of nature-derived ingredients.
IN THEIR OWN WORDS: “This acquisition will mark an important milestone in Cargill’s effort to expand its beauty business and will strengthen both companies’ shared vision to unleash beauty sustainably,” said Colleen May, President of Cargill Bioindustrial, which includes the Beauty business. “This partnership will accelerate our combined growth, maximize value for customers by building industry-leading capabilities focused on nature-derived solutions, and help those customers shift their portfolio from synthetic chemicals to more sustainable ingredients.”
“We are thrilled to join the Cargill team,” said Steve Brown, President of Floratech. “This partnership will bring even more sustainable value to cosmetics and personal care formulations around the world. Floratech has a long history of developing plant-based sustainable ingredients at levels of quality and functionality superior to the synthetic products they replace. Cargill’s long-established position as an agricultural powerhouse will not only sustain but accelerate that success.”
“This is an exciting step for our Beauty business,” said Bente Korsgaard Andersen, Managing Director for Cargill’s Beauty business. “Floratech is a key player in the beauty industry, and their expertise in specialty beauty ingredients is particularly impressive. Our combined capabilities will be essential to delivering new and innovative beauty solutions to customers that want nature-derived, sustainable ingredients.”
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