October 2017 Spray 29
Mergers & Acquisitions
L’Oréal has sold The Body Shop to Brazilian cosmetics firm
Natura. Financial details were not disclosed. The Body Shop sells
its products in 66 countries.
Yellow Wood Partners has acquired Freeman Beauty, a specialty
beauty company, from Champlain Capital. No financial terms
were disclosed. Yellow Wood is investing in Freeman in partnership
with CEO Jon Achenbaum and the company’s senior
management team.
Michael Kors Holdings Limited has reached an agreement to
acquire Jimmy Choo PLC.
IMCD N.V. will acquire 100% of the Canadian and U.S. specialty
chemicals and ingredients distributor L.V. Lomas.
Gattefossé Canada Inc. announced an agreement with Connect
Chemicals GmbH to be the exclusive distributor for Glory
Biomaterial’s natural, COSMOS/ ECOCERT certified bio-Propanediol
in Canada. 1,3-Propanediol is reported to be a natural
alternative to petroleum-based glycols (propylene glycol, butylene
glycol, or methyl propanediol) and glycerine. The agreement allows
Gattefosse to expand its natural product offering for Canadian
customers.
Windtree Therapeutics, Inc., a biotechnology company focused
on developing aerosolized KL4 surfactant therapies for respiratory
diseases, announced that it has initiated a financial restructuring
program intended to improve capital structure, which will better
enable the company to raise the necessary additional capital
to fund its AEROSURF respiratory distress syndrome (RDS)
program and further develop its pipeline of surfactant products
utilizing its proprietary KL4 and aerosol device technologies. The
company has entered into a loan agreement with Lee’s Pharmaceutical
(HK) Limited, who has agreed to advance up to $3.9
million to support AEROSURF development activities.
Douglas, a retailer in the European beauty sector, is strengthening
its operations in Spain by agreeing to take over a portfolio of up
to 103 stores and the e-commerce platform of Perfumerias If from
Spanish retail group Eroski.
Azelis has been appointed as exclusive distributor by Tagra Biotechnologies
to offer its range of RND microencapsulated actives
and pigments in China for all personal care applications. This new
partnership builds on agreements between the two companies in
Europe, Canada, Australia and New Zealand, and will reinforce
Azelis’s position in Asia Pacific.