Croda has agreed to acquire Solus Biotech, a global leader in premium, biotechnology-derived beauty actives, from Solus Advanced Materials for £232 million.
WHO: Solus Biotech has more than 30 years of experience in biotechnology and fermentation and is a leading supplier of naturally derived powder ceramides. Solus also has a portfolio of phospholipids produced at a GMP plant that can be used as delivery systems for pharmaceutical actives and cosmetics. The company is also developing biotech-derived retinol, an exciting, sustainable alternative to synthetically derived retinol.
WHY: The acquisition provides access to Solus' existing biotech-derived ceramide and phospholipid technologies and its emerging capabilities in natural retinol. This acquisition will significantly strengthen Croda's Beauty Actives portfolio and increases its exposure to targeted prestige segments. Located in South Korea, Solus expands Croda's Asian manufacturing capability and will create a new biotechnology R&D hub in the region.
IN THEIR OWN WORDS: Steve Foots, Chief Executive of Croda, said, "This is a strategic bullseye for Croda, consolidating our position as a global leader in supplying sustainable, natural actives for personal care across three critical technology platforms of peptides, ceramides and retinol. It significantly enhances our sustainable biotechnology capabilities and adds a North Asia manufacturing and innovation facility, providing a springboard to premium markets in Asia and beyond. I am especially excited about their brilliant technology, with Solus bringing rich IP and proprietary know-how that we will be able to deliver to customers globally."
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