German ingredients company BASF has partnered with China-based supplier Ingredi to enhance its capabilities in the growing Traditional Chinese Medicine (TCM) sector.
The deal will see BASF make an equity investment into Ingredi, enabling the company to expand its production facilities and increase its capabilities in developing personal care actives from the plants found in China's Himalayan region.
Meanwhile, BASF will contribute its expertise in global personal care markets to create new cosmetic ingredient solutions based on TCM principles, which is said to be a growing trend worldwide.
“We are committed to deliver new innovative solutions to the personal care market, and to build an ecosystem of partners that can support our customers,” said Dr Robert Parker, Director of New Business Development & Digital Officer, Care Chemicals at BASF.
“We are proud to collaborate with Ingredi, developing their business with mutual benefits together.”
Founded in 2017, Ingredi specialises in extracting botanical ingredients from the pan-Himalayan region in southwest China, known for its biodiversity, and is said to have a proven track record with both Chinese and international personal care customers.
“It is a great honor for us to be recognised by BASF as such a valuable partner for the industry,” said Dr Ji Zhou, Chairman and founder of Ingredi.
“The partnership with BASF will enable us to benefit from BASF’s experience in the industry and profit from each other’s know how.”
