NEWS
L’Oréal acquires Korean subsidiary of Mibelle
L’Oréal has agreed to acquire Gowoonsesang Cosmetics, the South Korean subsidiary of Swiss cosmetic actives maker Mibelle Group, from Migros. The sale includes the renowned
Dr.G brand, one of the leading dermocosmetic brands in South Korea. The value of the transaction was
not disclosed. Migros, Switzerland’s largest
supermarket chain and retail company, announced in February 2024 its intention to sell the Mibelle Group as part of its focus on its core business. Sales negotiations for the rest
of the Mibelle Group – including Mibelle Biochemistry - are still ongoing, said Migros in a statement. “There is a great deal of interest
from potential buyers,” it added. Based on the ongoing sales
negotiations, Migros said it is confident that L’Oréal will offer the South Korean Mibelle subsidiary Gowoonsesang the best opportunities for the future. Matthias Wunderlin, Head of
Migros Industrie (MIND), added: “The acquisition by L’Oréal is a huge opportunity for Gowoonsesang. L’Oréal has concrete plans to further
develop Gowoonsesang and has a wealth of experience in the Asian market.” “We are glad to welcome
Gowoonsesang into the L’Oréal family and to contribute to bringing the best of Korean beauty to the world”, said Samuel du Retail, President of L’Oréal Korea. “Having the Dr.G brand and
Gowoonsesang’s talented teams with us will further strengthen L’Oréal engagement with the Korean beauty ecosystem and allow us to expand the reach of K-beauty globally.”
The employees of
Gowoonsesang will join L’Oréal. The transaction is expected to
be completed in the coming months following approval by the regulatory authorities.
Barentz acquires NCD Ingredients
Dutch speciality ingredient distributor Barentz has acquired 100% of German counterpart NCD Ingredients for an undisclosed sum. Founded in 2013 by Thorsten
Fenchel and headquartered in Hanau near Frankfurt, NCD Ingredients employs a skilled team of experienced sales and technical experts. Fenchel will continue with
Barentz as managing director, ensuring seamless integration of the Barentz Personal Care division in the DACH (Germany, Austria, and Switzerland) region and delivery of high-quality service to both existing and new customers and principals.
“This partnership enables us
to leverage growth opportunities and further develop our business while maintaining our shared values, including a strong focus on sustainability,” he said. “Barentz’s technical expertise
and application laboratories provide valuable resources that will allow us to further grow in our region and better serve our customers’ needs. Together, we will create an enhanced offering for our customers, combining innovative ingredient solutions with our mutual expertise.” In a related development,
Barentz has promoted Derk Jan Terhorst to group CEO with
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BYK appoints Michael Schmidt chief technology officer
German speciality chemical maker BYK has appointed Dr. Michael Schmidt as chief technical officer, and global head of research and development. In his new role, Schmidt will work
closely with all BYK business units and external innovation ecosystems to develop differentiating and value-adding additive solutions. In particular, he will focus
on driving forward sustainable product and process innovation, digital transformation in R&D, and translating regulatory requirements into innovative products. Schmidt brings with him
extensive experience in research and development, in production and engineering, and in various commercial functions He began his career at Bayer in
2001 after completing his PhD in polymer science. In 2021, he was awarded an
advisory professorship at Donghua University in Shanghai, China. After holding various
management positions in Germany and abroad, he was appointed Global Head of Innovation for the Thermoplastic Polyurethane Business Unit at Covestro in 2023. “His extensive international
immediate effect. Terhorst takes over from Terry
Hill, who served as interim CEO from May 2024. Terhorst will continue to assume CFO responsibilities until as yet unnamed new recruit starts on 1 May.
Hallstar Beauty appoints Mary Kons as president
Hallstar has appointed Mary T. Kons as president of its Beauty & Personal Care division. Prior to Hallstar, Kons worked
for over 14 years at Evonik in commercial roles, most recently serving as vice president of its North American business. At Hallstar, Kons will oversee
a global organization of sales, product development, and supply chain professionals across
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four continents. Hallstar said the addition of
Kons to its senior leadership team reflects its growth and accelerated innovation activities, as well as the industry’s increasing complexity when it comes to regulatory and consumer demands. “Mary is coming aboard at the
outset of Hallstar’s integration of Sytheon, which we acquired at the end of October,” said COO Carmen
Masciantonio. “She has a valuable perspective
on working with global colleagues on strategies for rapid product portfolio expansion, having played a key role in the integration of several Evonik acquisitions.” Kons earned a BSc in electrical engineering from Marquette University as well as an MBA from DePaul University. She lives with her family in
Park Ridge, Illinois, and will be based at the Hallstar Beauty headquarters in nearby Darien when she is not traveling to visit her new colleagues in China, Singapore, France, Italy and Brazil.
February 2025 PERSONAL CARE
experience and profound understanding of global markets, innovative research and sustainable development, and digitalization make him the ideal person for this key position,” said Dr. Jörg Hinnerwisch, Division President of BYK. “We are confident that he will
play an important part in driving forward our innovation strategy and further strengthening our market position.”
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