Croda International Plc has entered into a new Smart Partnership with Entekno Materials.
WHO: Entekno is an innovative young Turkish company focused on the development of a new generation of particle technology that will deliver superior protection benefits to the sun care and personal care markets.
WHY: Driven by its motto “Smart Science to Improve Lives,” Croda is tackling some challenges the world is facing and has made a commitment to be “Climate, Land and People Positive” by 2030. The Croda purpose is aligned with Entekno’s ethics, and both companies recognize the synergies that their partnership offers to the personal care industry.
Founded in 1925 by an entrepreneur and a chemist, Croda International plc is a holding company based at Snaith, England, that manufactures a diverse range of chemicals and chemical products for the personal care, pharmaceutical, plastics, food processing, nutrition, fire prevention, engineering, and automotive industries.
IN THEIR OWN WORDS: “’Smart Science’ and an ongoing commitment to innovation and collaborative partnerships, such as this one, are key to achieving this target,” stated Jennifer Hart, Global Managing Director of Croda’s Beauty Effects Business. “We are excited about the future of solar protection and the innovative solutions that Croda and Entekno Materials will work together to deliver.”
“We combine scientific excellence with creativity, honesty and integrity and foster a strong sense of responsibility and faith in a better future,” stated Ender Suvaci, founder and CTO of Entekno Materials. “We are delighted to be working in partnership with Croda, together we will create step changes within the solar protection arena, now and in the future.”
- Croda International made a £1.5 million investment in Entekno Materials.
- The deal makes Croda a minority shareholder, as well as the company’s exclusive route to market for the Personal Care industry, and an R&D partner focused on driving innovation and delivering unique, natural, and safe inorganic sunscreens to the market.
- Phase one of the smart partnership will be focused on the development of the Solaveil TM MicNo range of mineral sunscreens, which Croda will bring to market. The products have high-protection performance and non-whitening benefits, attributed to the micro-platelet ZnO structure.
- The KS Attorney Partnership, the local legal arm of EY Turkey, has advised Croda International Plc.
- BTS & Partners has advised the founders of Entekno Global and Diffusion Capital on the deal.
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