The acquisition gives Croda access to Solus’ existing biotech-derived ceramide and phospholipid technologies and its emerging capabilities in natural retinol. The deal will “significantly strengthen” Croda’s Beauty Actives portfolio and increases its exposure to targeted prestige segments, Croda says in a press statement.
Ownership by Croda will accelerste Solus’s growth by providing access to Croda’s technical and innovation capabilities, particularly in formulation, as well as its global selling network.
Steve Foots, CEO of Croda, called the deal a “strategic bullseye” for Croda.