In the United Kingdom, Croda International Plc has agreed to acquire Solus Biotech, a South Korea-based producer of biotechnology-derived beauty actives, from Solus Advanced Materials for KRW350 billion ($275 million).
The deal provides access to Solus’ existing ceramide and phospholipid technologies and emerging capabilities in natural retinol. It will also strengthen Croda’s Beauty Actives portfolio and increases its exposure to targeted prestige segments.
“This is a strategic bullseye for Croda, consolidating our position as a global leader in supplying sustainable, natural actives for personal care across three critical technology platforms of peptides, ceramides and retinol,” Steve Foots, Croda CEO, says in a press statement. “It significantly enhances our sustainable biotechnology capabilities and adds a North Asia manufacturing and innovation facility, providing a springboard to premium markets in Asia and beyond.”
The deal is subject to regulatory approval.