COWICK HALL, East Yorkshire, UK -- Croda International Plc, a leading global supplier of specialty chemicals, announced that it has acquired the assets of Innovachem, LLC of Cutchogue, NY. This acquisition adds Innovachem's unique patented product portfolio to Croda's already wide range of ingredients for the personal care industry.
"Innovachem offers excellent technologies to help further expand Croda's offerings to the personal care market," said Keith Layden, Chief Technology Officer, Croda. "We are extremely pleased to be able to add these technologies to our portfolio, as well as to be able to service the needs of customers who are already using these ingredients in the marketplace. With Croda's commitment to technology and service, we feel we can develop the Innovachem technology to offer more opportunities to our customer base."
The acquisition of Innovachem adds two new interesting product lines to the Croda personal care portfolio: the PANTHEQUAT™ conditioner and the LIQUIWAX™ range of cosmetic esters. As a quaternized panthenol, PANTHEQUAT conditioner offers the benefits of Provitamin B-5 (panthenol), such as healthy-looking, shiny, and manageable hair and smooth, soft, moisturized skin, along with the substantivity imparted by a long chain quaternary. This makes it an excellent ingredient for rinse-off systems. The LIQUIWAX range will enable Croda to offer an even larger portfolio of multifunctional emollient esters with enhanced skin conditioning functionality, including softening and lubrication, as well as improved barrier function for excellent moisturization benefits.
"The product portfolio gained through the acquisition of Innovachem is an excellent fit into the Croda technology model," said Kevin Gallagher, President of Croda Inc. "Their patented ingredients dovetail nicely into our existing framework of focusing on multifunctional, patented materials that provide a unique benefit to our customers and, ultimately, the consumer. We are excited about the acquisition and the ability it will provide to us to better service our customers around the world."
The acquisition was finalized on December 20, 2012. During the first half of 2013, Croda will transition the products offered by Innovachem, and formerly sold through third party distribution, into its portfolio.
Croda International Plc is a U.K.-based manufacturer and world-wide supplier of natural based specialty chemicals that are sold to virtually every type of industry. The company has approximately 3200 employees, working in 33 countries. Croda offers a global network, servicing the specialty chemicals needs in the sectors of Consumer Care (personal care, health care and crop care), Performance Technologies (home care, additives for polymers, polymers and coatings, lubricant additives and processed vegetable oils) and Industrial Chemicals (base oleochemicals).
About Innovachem, LLC
Established in 1989, Innovachem, LLC in Cutchogue, NY is a private company categorized under Industrial Organic Chemicals (Unclassified) Manufacturers.