Mergers & Acquistions
L’Oréal has acquired Toronto-based ModiFace, an augmented reality
(AR) and artificial intelligence (AI) company that provides technology
for beauty brands. ModiFace will become part of L’Oréal's Digital
Services Factory and will support the company’s digital R&D efforts.
Terms of the deal were not disclosed. ModiFace has 70 employees
who have submitted more than 30 patents; the company will remain
based in Toronto.
Additionally, L’Oréal and Italian fashion house Armani have
announced the renewal and extension of a licensing agreement until
2050. Since 1988, the two companies have collaborated and last
year generated revenues of more than €1 billion ($1.24 billion) in
perfumes, skin care and makeup.
European private equity firm PAI Partners has purchased beauty
and personal care packaging firm Albéa for an undisclosed sum. The
acquisition is expected to help accelerate Albéa’s growth strategy and
boost its market position. The company employs more than 15,600
people in 60 countries.
Windtree Therapeutics, Inc. and Eleison Pharmaceuticals, Inc.
are collaborating to assess the feasibility of using Windtree’s proprietary
pulmonary aerosol delivery system (ADS) to deliver Eleison’s
inhaled lipid cisplatin (ILC) in patients with in thoracic cancer.
This medical delivery system is being tested for potential use with
Windtree’s KL4 surfactant. ILC was developed to target non-small
cell lung cancer (NSCLC) and bone cancer (osteosarcoma) metastatic
to the lung.
Toly Products has been named custom injection molding maker
Sussex IM’s exclusive representative in the beauty industry. Sussex
IM is based in Wisconsin and is known for its globally-distributed
beauty, health care and consumer product brands and manufacturing
facilities in the U.S. Malta-based Toly Products is a manufacturer for
the beauty industry with plants in Malta, China and Korea and sales
offices located around the world. Both companies are privately-owned
businesses.
Berlin Packaging and its Bruni Glass division have acquired H.
Erben Ltd., a Hadleigh, UK-based supplier of closures, packaging and
packaging equipment. H. Erben has operations in South Africa, California
and online at www.TheBottleJarStore.co.uk. With this acquisition,
Berlin Packaging now has offices throughout Europe, including
Italy, France, Spain, and now the UK, as well as locations in South
Africa, China and North America. The new division will be called
Bruni Erben and will have a 200-person sales force. All employees
and locations will be retained and leadership at H. Erben will remain
the same, said Berlin Packaging.
Givaudan has acquired 40.6% of the shares of Naturex, a French
company focused on plant extractions for the food, health and beauty
industries, for €522 million ($645 million). Givaudan intends to
launch a mandatory cash tender offer for all remaining outstanding
shares of Naturex, at a price of €135 ($167) per share. The move is
expected to bolster Givaudan’s 2020 strategy to strengthen its natural
flavor capabilities.
May 2018 Spray 47