NEWS
Merck sells pigments business to China’s GNMI
Germany’s Merck has agreed to sell its Surface Solutions business unit to Global New Material International (GNMI) of China for €665m ($720m) in cash. Surface Solutions makes
pigments used in coating, industrial and cosmetic applications and generated sales of €411m last year. Around 1,200 employees,
approximately 700 of whom are based in Germany, are to be transferred to GNMI as part of the transaction.
GNMI is planning for the Surface
Solutions business unit to have three regional headquarters with one each in Germany, the United States and Asia, while maintaining its existing production facilities in Gernsheim, Germany, Onahama, Japan, and Savannah, Georgia, USA. Merck will remain the owner of
the property at the Gernsheim site with a long-term lease contract with GNMI and a clear separation plan for the area used by Surface
Solutions. The GreenTech Park Fluxum in
Gernsheim is not affected by the sale.
The transaction is expected to
close in the course of 2025 and is subject to regulatory approvals and the satisfaction of certain other customary closing conditions. Merck intends to use the net
proceeds from the divestment to strengthen its strategic core businesses. “The divestiture of the Surface
Solutions business unit will further sharpen our focus on high-tech applications in electronics, such as driving the development of next-generation chips as an integrated solutions provider for our semiconductor customers,” said Belén Garijo, Chair of the Executive Board and CEO of Merck (pictured, right). Ertian Su, chairman and CEO of
GNMI (pictured, centre), said: “We are impressed by the commitment, experience and expertise of Surface Solutions’ employees and are already looking forward to welcoming our future colleagues to the company. “The combination will provide
attractive long-term prospects for career development, including job guarantees for employees in Germany and a site guarantee for Gernsheim until 2032. This is a clear sign of how much we value the business and its employees,” he added.
9
Tate & Lyle to acquire CP Kelco
for $1.8 billion British foods business Tate & Lyle is to acquire US nature-based ingredient maker CP Kelco from parent company JM Huber Corporation (Huber) for $1.8 billion. Tate & Lyle will acquire the entire
issued share capital of CP Kelco US, CP Kelco China and Denmark- based CP Kelco ApS together with each of their respective subsidiaries. The deal to acquire Atlanta-
headquartered CP Kelco is expected to close later this year. Huber will continue to stay
invested in CP Kelco through a shareholding of about 16% in the combined London-based Tate & Lyle/CP Kelco holding company Tate & Lyle PLC, following completion of the transaction. In addition, Huber will hold
two seats on its board of directors, subject to shareholding thresholds.
Gobiotics acquired by Ekkio Capital, creates Sweetch
French private equity outfit Ekkio Capital has established Sweetch, a personal care ingredient supplier focused on natural and sustainable technologies, via a trio of acquisitions. Dutch skin microbiota specialist
Gobiotics, French delivery systems maker Creathes and CreaChem, a Belgian producer of saccharides from chicory roots, beet roots and rice, will unite under the Sweetch umbrella. Paris-based Sweetch aims
to impact the beauty industry by
demonstrating the power and benefits of natural ingredients through plant-based and biotech solutions, open innovation and advanced formulation. Their “holistic vision focuses on a positive impact for people and planet at scale using upcycled feedstocks, microbiome oriented functional and active ingredients, low energy formulation, and more”. Sweetch are led by chief
executive Tony Jaillot, former global vice president of beauty & personal care at Univar Solutions.
commercial officer. “While there are many great
Other Sweetch executives
include: Arnita Wofford, chief marketing officer; Dominique Villard, chief financial officer; Hervé Huilier, chief operational officer; Laurent Gilbert, chief sustainability officer; and Sébastien Kerverdo, chief
renewable ingredients on the market, we believe that there is a novel way to assemble them into differentiating concepts while bringing new technologies to life, from untapped food technologies to biotech or even other industries,” said Jaillot. “We are delighted to partner
with the visionary team of Ekkio Capital in this journey and to build a new disruptive player in the beauty ingredients space!”.
Givaudan finalises acquisition of b.kolormakeup & skincare
Givaudan has completed the acquisition of b.kolormakeup & skincare (b.kolor), an Italian cosmetics manufacturer specialising in developing finished makeup and skincare products. Having acquired 25% of
b.kolor in July 2021, Givaudan now obtains the remaining 75% in a deal worth approximately 77m Swiss francs ($86m) and will look
www.personalcaremagazine.com
to continue their 2025 expansion plan. Founded in 2000 and based
in Milan, b.kolor employs over 300 people and has cemented itself as experts in creative formulation design and the production of finished products for B2B customers. Givaudan Fragrance and Beauty
President Maurizio Volpi said: “By sharing our creative and innovation
capabilities, we will generate additional value to our respective customers by providing a complete offer combining high level of science with excellence in design.” The acquisition means that
Givaudan will be able to offer innovative solutions for make-up formulations and further widen its capabilities for skincare applications by utilising b.kolor’s expertise within
the field. Maria-Teresa Sancini,
chairwoman of b.kolor, said: Givaudan’s capabilities in creation, ingredients and technology will greatly support us in evolving our product offering, while benefiting from Givaudan’s customer base and geographical footprint to expand ourselves in new territories.
September 2024 PERSONAL CARE
Credit:
www.dk-graphics.de
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