TAGS: Natural/ Organic
Cargill enters into an agreement to acquire Floratech, one of the leading global providers of innovative natural emollients and derivatives for beauty and personal care applications.
Acquisition to Grow Cargill’s Beauty Business
The acquisition demonstrates Cargill’s ambition to grow its beauty business and would offer beauty and skincare customers around the world access to the broadest portfolio of
sustainable, nature-derived ingredients.
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This acquisition will mark an important milestone in Cargill’s effort to expand its Beauty business and will strengthen both companies’ shared vision to unleash beauty sustainably,” said Colleen May, president of Cargill Bioindustrial, which includes the Beauty business.
This partnership will accelerate both the companies’ combined growth, maximize value for customers by building industry-leading capabilities focused on nature-derived solutions, and help them shift their portfolio from synthetic chemicals to more sustainable ingredients.
Floratech’s Emollients Fit within Portfolio
Cargill has been producing ingredients for the beauty industry for more than 40 years, building a world-class global beauty organization focused on delivering a broad portfolio of nature-derived ingredients. The addition of Floratech and its industry-leading capabilities in specialty emollients and derivatives will fit squarely within its portfolio.
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We are thrilled to join the Cargill team. This partnership will bring even more sustainable value to cosmetics and personal care formulations around the world. Floratech has a long history of developing plant-based sustainable ingredients at levels of quality and functionality superior to the synthetic products they replace. Cargill’s long-established position as an agricultural powerhouse will not only sustain but accelerate that success,” said Steve Brown, president of Floratech.
The acquisition awaits regulatory approval and closing conditions. Rothschild & Co is serving as financial advisor and Eversheds Sutherland as legal counsel to Floratech on this transaction.
Source: Cargill