Tecnocap has signed a joint venture with Indian packaging maker
Oricon Enterprises Ltd., marking the company’s first entry into
India. The two companies have created Tecnocap Oriental based in
Mumbai. Tecnocap has a 75% controlling share due to its acquisition
of Oricon’s Metal Lug business; Oricon will hold the remaining
25% share of the venture. Financial terms of the deal were not
Personal care ingredient manufacturer BASF has partnered with
Cargill, Procter & Gamble (P&G) and the Deutsche Gesellschaft
für Internationale Zusammenarbeit GmbH (GIZ) in a development
partnership under the develoPPP.de program commissioned
by the German Federal Ministry for Economic Cooperation &
Development (BMZ) to establish
share an understanding of
market mechanisms and
trends, while GIZ contributes
its expertise in the training of farmers and promoting sustainability
standards. Between 2015–2019, more than 4,100 coconut farmers
have been trained in Good Agricultural & Processing Practices
(GAP) as well as Farm Management practices. About 1,600 farmers
received additional training and have been certified against the
Rainforest Alliance Sustainable Agriculture Standard. Farmers who
were trained and certified, have on average a 47% higher income
than farmers who didn’t participate in the program, said BASF.
May 2020 Spray 35
Mergers & Acquistions
High Ridge Brands Co. has completed its previously
announced sale transactions under which an affiliate
of Perrigo Co. has completed the acquisition of the
oral care business, and an affiliate of Tengram Capital
Partners has completed the acquisition of the hair
care and skin cleansing business.
The oral care businesses include Firefly, Reach and
Dr. Fresh brands. The hair and skin care business
include Zest, Alberto VO5, Coast, White Rain, LA
Looks, Zero Frizz, Rave, Salon Grafix and Thicker
Fuller Hair, among others.
“We are pleased to complete these value-maximizing
sales to two buyers who bring significant resources
and experience helping brands build on their strong
foundations,” said Patricia Lopez, CEO & President
of High Ridge Brands.
“We have worked closely with both Perrigo and
Tengram to ensure a seamless transition for our
customers and consumers.”
With the completion of the sale transaction, the court-supervised
sale process has concluded, according to High Ridge Brands.
L’Oréal announced it has finalized the acquisition of the Mugler
brands and Azzaro fragrances from Clarins Group. Terms of the deal
were not revealed.
“We look forward to welcoming the Mugler and Azzaro teams to
the L’Oréal family, and to accompanying them, especially in this difficult
time,” said Cyril Chapuy, President of L’Oréal Luxe.
Firmenich is acquiring Les Dérivés Résiniques et Terpéniques
(DRT), a maker of renewable ingredients primarily sourced from pine
trees from investors Ardian and Tikehau Capital, as well as family
shareholders. The acquisition
presence in France, which is
the company’s second largest
market. DRT was founded
in 1932 and is headquartered
in Dax, France. It employs more than 1,500 people in France,
the U.S., India and China. Financial terms were not disclosed.
Just as Walmart announced it is seeing dramatic increases in at-home
hair dye sales as consumers remain in isolation during the COVID-19
pandemic, virtual beauty app maker Perfect Corp. is partnering with
Sally Beauty Holdings, Inc.
for the ColorView AI Hair
Color Try-On Experience,
a virtual hair color try-on
experience that has launched
in 500 Sally Beauty stores
and on the Sally Beauty app.
For instance, ColorView can
match customers with suggested
products and shades
based on their individual
preferences and goals across
Sally Beauty’s Ion, Arctic
Fox, Wella, Ardell and COLLAB
brands. The technology
utilizes Perfect Corp.’s
YouCam app technology.
a certified coconut oil
supply chain and improve the
livelihood of coconut farmers
in the Philippines and Indonesia.
The private partners
Continued from page 8
Policy (SNAP) program rule. However, these States’ activities need
to be monitored to make sure that no undue provisions affect our
products. Below is a short summary of each State’s activity:
• California: Regulation finished and effective 1/1/2019.
• Vermont: Regulatory action likely before summer 2020.
• Washington State: Emergency Rule effective. Regulatory
rule activity is ongoing and will likely be proposed before
the end of April. We are trying to avoid a labeling provision.
• New Jersey: We had a conference call on March 26.
Aerosols are not included yet.
• Oregon: Working on legislation.
• Hawaii: Working on legislation.
• Maine: Working on legislation.
• Colorado: Regulatory proposal; current activity includes a
proposed rule needed to modify reporting requirements.
• Connecticut: Regulatory proposal; activity this summer.
• Delaware: Regulatory proposal; virtual public hearing held
on April 23.
• Maryland: Regulatory proposal; activity started in April.
• New York: Regulatory proposal; ongoing activity.
• Massachusetts: No language yet, but plans to finish by 2020.
• Rhode Island: Plans to work on a regulatory proposal in
• Pennsylvania: We are likely to see language this summer.
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