Cargill has further invested in its Cargill Beauty platform with the acquisition of Arizona-based botanical ingredients company Floratech.
Floratech is said to bring 45 years of expertise in natural emollients and jojoba derivatives, and its development experience in specialty beauty ingredients aligns closely with Cargill’s growth strategy for its beauty business.
Cargill is best known as a supplier to the agricultural market, but the 155-year-old company has also been producing ingredients for the beauty industry for more than 40 years.
“This acquisition will mark an important milestone in Cargill’s effort to expand its beauty business and will strengthen both companies’ shared vision to unleash beauty sustainably,” said Colleen May, president of Cargill Bioindustrial, which includes Cargill Beauty.
“This partnership will accelerate our combined growth, maximise value for customers by building industry-leading capabilities focused on nature-derived solutions, and help those customers shift their portfolio from synthetic chemicals to more sustainable ingredients.”
Commenting on the deal, Steve Brown, President of Floratech, said: “We are thrilled to join the Cargill team.
“This partnership will bring even more sustainable value to cosmetics and personal care formulations around the world.
“Floratech has a long history of developing plant-based sustainable ingredients at levels of quality and functionality superior to the synthetic products they replace.
“Cargill’s long-established position as an agricultural powerhouse will not only sustain but accelerate that success.”
Bente Korsgaard Andersen, Managing Director of Cargill Beauty, added: “This is an exciting step for our beauty business.
“Floratech is a key player in the beauty industry, and their expertise in specialty beauty ingredients is particularly impressive.
“Our combined capabilities will be essential to delivering new and innovative beauty solutions to customers that want nature-derived, sustainable ingredients.”