June 2019 Spray 39
Mergers & Acquistions
Seoul-based LG Household & Health Care Ltd. has agreed to buy
New Avon LLC, also known as Avon North America, which spun off
from Avon Products Inc. in 2016,
for $125 million. It will acquire
New Avon from private-equity
firm Cerberus Capital Management
L.P. and former parent Avon Products, which held a minority
stake. The acquisition is expected to be completed on Sept. 30.
Edgewell Personal Care Co. is purchasing Harry’s,
Inc. for $1.37 billion. The companies will form a “next
generation consumer products” platform to build and
grow consumer brands in various channels. The transaction
is expected to close in the first quarter of 2020. The
combined company will be led by Edgewell’s President &
CEO, Rod Little. Colin Hutchison will continue to serve
as COO, Dan Sullivan as CFO, Marisa Iasenza as Chief
Legal Officer and John Hill as Chief Human Resources
Officer. Andy Katz-Mayfield and Jeff Raider, Harry’s Co-
Founders and Co-CEOs, will join the Executive Team of
Edgewell and serve as Co-Presidents of U.S. Operations.
Edgewell will continue to examine the possible sale of its
Feminine Care and Infant Care businesses.
TriMas has acquired Taplast S.p.A., a privately-owned designer and
manufacturer of dispensers, closures and containers for consumer
products, for an undisclosed sum. Taplast has manufacturing
facilities in Italy and Slovakia. Taplast will become a wholly-owned
division of TriMas’ Rieke business.
Givaudan is acquiring the cosmetics business of AMSilk GmbH for
an undisclosed sum. AMSilk supplies vegan silk biopolymers and
other bio-sourced polypeptides. The acquisition will expand Givaudan’s
Active Beauty business capabilities.
Givaudan has completed
the acquisition of Albert
Vieille, a 99-year-old French
company that specializes in making pure essential oils for the fragrance
and aromatherapy markets. It is based in Grasse, France and
has more than 60 employees. Terms of the deal were not disclosed.
Italian biotech company Cutech has been acquired by Symrise.
Cutech offers pre-clinical screening services for cosmetic ingredients
and finished formulations. The purchase will expand Symrise’s
capabilities in the efficacy testing of cosmetic ingredients.
Brenntag and Mane have formed a partnership to distribute
perfume oils to Germany and Switzerland. The two companies have
already worked together in flavoring compositions in Germany and
perfume concentrates in Eastern Europe. The new collaboration
will focus on perfume oils for cosmetics and body care products, and
intends to expand to household cleaners and detergents. Spray