TAGS: Sun Care
Decorative Cosmetic
Symrise has agreed to make a strategic investment in Kobo Products Inc., a powder and dispersion specialist for the beauty industry. Symrise considers the investment a strategic step to expand its activities into inorganic UV filters and decorative cosmetics.
Acquires Minority Stake in Kobo
Symrise will acquire a 25 percent stake and agreed with Kobo on the future disposition of shares of Kobo´s capital stock and the governance of Kobo.
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With this investment, we fast-track our strategic plan to expand into decorative cosmetics. It enables us to stay at the forefront of consumer trends by bridging color and skin care cosmetics,” said Dr. Jörn Andreas, president of Cosmetic Ingredients Division at Symrise AG.
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We will combine Kobo’s broad range of market-leading product lines in surface treated pigments, sun care and color dispersions with our decades of experience in manufacturing and marketing high-quality cosmetic ingredients. Our customers will benefit from an unmatched range of UV filter products and a full spectrum of formulations and integrated solutions.”
Explore Additional Growth Opportunities
Kobo Products Inc. is a
pigment & powder specialist, providing innovative, technology-based raw materials to the cosmetic industry. Kobo has a large color palette of surface treated pigments and dispersions to supply the market demand for make-up products for a wide range of skin tones. It is one of the market leaders in mineral sunscreen technologies to create high protection formulations with broad spectrum protection, microspheres for enhanced textures, and materials that are derived of natural origin.
Symrise’s Cosmetic Ingredients division is one of the global leaders in the beauty solutions market. Symrise sees a wide range of possibilities to jointly explore additional growth opportunities together with Kobo. Both groups will, for example, cooperate in the distribution of UV filters and Kobo can capitalize on Symrise’s global sales infrastructure.
President of Kobo since inception, David Schlossman, said: “
Joining forces with Symrise offers us an opportunity to further develop our color and sun businesses. Both companies share similar values regarding employee health and their well-being. Symrise’s resources and expertise in organic UV filters combined with ours in inorganic UV filters will create an organization with the capacity to analyze and develop novel ingredients and formulations that provide broad spectrum protection, are safer for the environment, and that minimize in their impact on carbon emissions. Together, we will do the research necessary to create technical color and sun care products that are responsive to the needs of customers, regulators, and other stakeholders around the world.”
The financial details of the investments were not disclosed.
Source: Symrise