Industry News
Mergers & Acquistions
L’Oréal has acquired Takami Co., created by Dr. Hiroshi
Takami, founder of two dermatological clinics in Tokyo.
Terms of the deal were not revealed. L’Oréal also renewed
a long-term brand licensing agreement with Dr. Takami
and signed a collaboration contract with the Takami
clinics.
Ares Management Corp.’s Private Equity Group
and Ontario Teachers’ Pension Plan Board are
acquiring a majority interest in packaging firm
TricorBraun through a definitive stock purchase
agreement. Financial terms of the deal were not disclosed.
The transaction is expected to close in the first quarter
of 2021. TricorBraun’s management team members will remain in
place and retain a significant investment in the company, as will AEA
Investors.
A previously planned merger between Procter & Gamble (P&G)
and Billie Inc. has been dissolved. The U.S. Federal Trade Commission
(FTC) filed a complaint in December to stop the deal, asserting
that the merger would eliminate new competition against P&G and
innovation in the wet shave razor market.
Symrise AG has acquired Sensient Technologies Corp.’s fragrance
and aroma chemicals business. The deal aims to strengthen Symrise’s
position in personal and home care fragrance ingredients, boost its
EAME and Latin American presence and includes a manufacturing
site in Granada, Spain that Symrise plans to expand. Terms of the
deal were not disclosed.
32 Spray February 2021
The Dr. Majeed Foundation, created by Sami-Sabinsa’s Group
Founder & Chairman Muhammed Majeed, recently donated
5,500 10-kilogram bags of rice to the people of Magadi, India.
The donation, which benefited more than 5,000 people, was
aimed at alleviating food insecurity in the country.
“While many of the Foundation’s programs are focused upon
helping poor children receive an education so they have a brighter
future, right now they are just trying to survive,” said Majeed.
“I’m glad to be able to help these families.”
Croda has invested £1.5 million ($1.96 million) in Turkish company
Entekno Materials to form a collaborative R&D partnership for sunscreen
actives in personal care and become a minority shareholder.
Entekno Materials will offer its scientific innovations for natural
inorganic sunscreens. The first phase of the partnership will result in
the Solaveil TM MicNo range of mineral sunscreens, which are sunprotective,
non-whitening and contain unique micro platelet ZnO
structures. The range will be available in coated and uncoated powders,
with dispersion options, and some COSMOS accreditations.
In other news, Croda International plc has purchased Murcia,
Spain-based cosmetic-ingredient maker Iberchem for €820 million
($973 million). The transaction will help Croda expand into the
fragrance market, as Iberchem reportedly generates 80% of its sales
from fragrances used in personal and home care products.
AptarGroup, Inc. has acquired the assets
of Cohero Health Inc., a digital respiratory
health company, through its Aptar
Pharma subsidiary. Terms of the deal
were not disclosed. With Aptar’s recent
investments in Sonmol in China and
Navia Life Care in India, Cohero will
expand Aptar’s digital health devices and platforms on a global basis.
LBB Specialties LLC has purchased a majority interest in Medley,
FL-based Custom Chemical Services, Inc. (CCS). Chad Hicks will
continue to serve as President of CCS, a regional specialty chemical
and ingredients distributor. Terms of the transaction were not
revealed. Spray
Diversified CPC International (DCPC) has completed the $10 million
Phase I construction of the company’s new Beaumont, TX plant.
The facility, located at the Iron Horse Terminals, launched a commercial
operation in November 2020 and consolidated several rail transloading
operations at one location. Phase II will include the construction
of bulk storage and processing capabilities, while Phase III will
bring additional manufacturing capacity online in the following years,
DCPC said. The Beaumont operation will be DCPC’s second major
production and distribution facility other than the one at Joliet, IL.
BASF Care Creations’ new Ingredient
Insider tool helps formulators
choose BASF ingredients
that are compliant with various
company initiatives such as Clean
at Sephora, Credo Clean Beauty
Standard and Target Clean standards.
More info: carecreations.
basf.us/ingredient-insider.
Symrise has invested €50 million ($56.8 million) to open a state-ofthe
art flavor and fragrance production
site in Nantong, China.
The opening of the building was
via video conference, which was
a first for Holzminden, Germanybased
Symrise.
Sixteen European cosmetic packaging companies have partnered
to launch a research program with Laboratoire National de Métrologie
et D’Essais (LNE) to boost transparency in the personal
care industry and create protocols to manage formula interactions
and toxicology risks, establish tolerance thresholds for health safety,
develop safety assessment methods and anticipate potential new
regulations. The €300,000 ($337,500) project includes these partners:
COSMETOPACK, Albéa, Berry-Bramlage, Cosmetic Valley,
Eastman, Equitox, Laboratoires Expanscience, LVMH Recherche-
Parfums&Cosmétiques, MS BEAUTiLAB, PRP Création, Texen,
Groupe Treffert, Itech, Université Lyon 1, Allizé-Plasturgie,
Cosmet’in Lyon and Plastipolis.