May 2021 Spray 27
Mergers & Acquistions
The Starco Group, Los Angeles, CA, has purchased aerosol manufacturer
Chase Products Co., Broadview, IL, for an undisclosed sum.
Chase has expertise in spray paints, household cleaning products,
personal care sprays and EPA-registered disinfectants and insecticides.
This will add to Starco’s portfolio of aerosol, liquid fill and
bulk chemicals for the household, do-it-yourself/hardware, personal
care, pharmaceutical, food, beverage and spirits industries, the
company said.
Crown Holdings, Inc. has entered into a definitive agreement to sell
its European tinplate business to KPS Capital Partners, LP. Crown
will receive pre-tax proceeds of approximately €1.9 billion ($2.26 billion)
from the transaction and will retain a 20% ownership stake in
the business. The European tinplate business comprises 44 manufacturing
facilities in 17 countries in Europe, the Middle East and Africa
that produce aerosol cans, food cans and ends, metal closures and
promotional packaging for various consumer brands. In 2020, the
business generated €1.9 billion ($2.26 billion) in revenue and had
approximately 6,300 employees.
L’Oréal has invested an undisclosed minority stake in Swiss environmental
tech startup Gjosa, through its Business Opportunities
for L’Oréal Development (BOLD) corporate venture capital fund.
Gjosa develops water-saving solutions. The companies have worked
together since 2015 to optimize shampoo rinsing, which included the
development a water-saving shower head and hair care system called
the L’Oréal Water Saver.
TricorBraun has acquired Quebec-based rigid packaging distributor
RODA Packaging for an undisclosed sum. The acquisition also
includes Rada Industries, a maker of injection and custom blow
molded plastic parts. All RODA team members, including Owner
& CEO Stéphan Berthiaume, will remain with TricorBraun. RODA
will now be called “RODA, a TricorBraun company.” The purchase
expands TricorBraun’s presence in Eastern Canada.
Sozio has purchased natural fragrance manufacturer Phoenix
Fragrances Ltd. based in the UK. Financial terms were not revealed.
The company plans to invest an undisclosed sum in Phoenix’s R&D
laboratories and production site to sustain growth in Seillans, Levallois
and Noyant, France; Piscataway, NJ; Hong Kong and Indonesia.
The Phoenix Fragrance brand will remain separate from Sozio; its
owners, Tony Dalimore and Alan Parry, will continue to manage
Phoenix Fragrances.
DSM has acquired the Flavor & Fragrance bio-based intermediates
business from Amyris, Inc. for $150 million. The acquisition will
add bio-based ingredients to DSM’s aroma offerings for the flavor
and fragrance and personal care industries. DSM and Amyris will
continue their R&D partnerships, as well.
Additionally, Amyris is acquiring Costa Brazil, a beauty and wellness
company containing ingredients from the Amazon. Terms of the
deal were not revealed. Costa Brazil will join Amyris’ other consumer
beauty brands. The transaction was expected to close at the end of
March. Spray