TAGS: Natural/ Organic
Givaudan has reached an agreement to acquire the cosmetics business of Indena. The two companies will also sign a long-term partnership agreement under which Indena will continue to manufacture ingredients for Givaudan, as well as provide innovation capabilities and other supporting services.
Expands Plant-based Ingredient Portfolio
With this acquisition Givaudan expands the capabilities of its Active Beauty business, as a part of its 2020 strategy. Indena will offer Active Beauty an expanded portfolio of plant-based ingredients that complement Givaudan’s current portfolio and further enhance company’s position in the active cosmetic ingredients industry.
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The acquisition of the cosmetics business of Indena fits very well with our long-term strategy for Active Beauty. They have an excellent reputation in the market, thanks to the quality of their ingredients, their strong focus on innovation as well as the mastering of their supply chain,” said Maurizio Volpi, President of Givaudan’s Fragrance Division.
Partnership to Enhance Capabilities
This partnership will allow both companies to enhance their capabilities and to focus on their respective core competencies, a win-win strategy to the benefit of customers and consumers.
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Indena’s cosmetics business will add high quality new active ingredients to our current portfolio of products,” commented Laurent Bourdeau, Head of Givaudan’s Active Beauty Business.
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Their four strategic pillars – botanical expertise, research, scale up, quality safety and efficacy – fit perfectly with Givaudan Active Beauty’s future ambitions as well as with our sustainability approach ‘A Sense of Tomorrow’. It is exciting to add such expertise to our existing capabilities and they will greatly contribute to our 2020 strategic ambitions and beyond.”
Indena believes that the partnership will strengthen its business and benefit from Givaudan’s knowledge of natural cosmetic ingredients, as well as the use of the latest sustainable biotechnologies to create high-performing functional products.
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We are in favour of this transaction as it enables Indena to focus on its core markets of pharmaceuticals and health food, whilst continuing to support the cosmetic ingredients business which has been a valuable part of our portfolio,” added Daniele Giavini, Managing Director of Indena.
The terms of the deal have not been disclosed and Givaudan plans to fund the transaction from existing resources. Indena’s cosmetic ingredients business would have represented approximately EUR eight million of incremental sales to Givaudan’s results in 2018 on a proforma basis. The transaction is expected to close in Q1 2020.
Source: Givaudan