TAGS: Sustainability / Natural Cosmetics
Givaudan announces that it has completed the acquisition of a major cosmetic ingredients portfolio from Amyris, Inc (Nasdaq: AMRS). Givaudan announced that it had reached an agreement for this transaction in February 2023.
Strong Partnership to Leverage the Value of Amyris’ Technology
Amyris is a biotechnology company accelerating the world’s transition to sustainable consumption through its Lab-to-Market™ technology platform in beauty, health & wellness, and flavors & fragrances markets. Amyris and Givaudan have a strong partnership to leverage the value of Amyris’ technology platform for designing, scaling, and manufacturing the best-performing bio-fermented ingredients.
“It is an important step for Givaudan as we will reinforce our leadership in biotech while continuing to offer efficient and sustainable solutions for the beauty industry, thanks to our long-standing partnership with Amyris. The complementary nature of both capabilities will further enhance our ability to support our customers with breakthrough innovations,” Maurizio Volpi, president of Givaudan Fragrance & Beauty.
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We are very pleased with the expansion of our long-term partnership with Givaudan. Our unique biomanufactured molecules enable significant expansion to the Givaudan Active Beauty business leadership in the supply of clean, sustainable ingredients. We expect the reach and scale of Givaudan to accelerate our sales growth and to support the beauty industry’s transition to sustainably produced chemistry,” said John Melo, Amyris president, and chief executive officer.
Markus Rassmann, head of Active Beauty, said, “
We are delighted to enrich our market-leading biotech cosmetic ingredients portfolio with the Amyris products. With this acquisition we enhance our unique biotech palette, leading the market towards a more sustainable future.”
While terms of the deal have not been disclosed, Amyris’ cosmetic business would have represented approximately USD 30 million of incremental sales to Givaudan’s results in 2022 on a proforma basis. Givaudan funded the transaction from existing resources.
Source: Givaudan
