British specialty chemicals manufacturer Croda has completed its acquisition of Solus Biotech.
Croda first made public its intention to buy the Korean company, which specialises in biotechnology-derived beauty actives, in February.
The chemicals giant said it intends to expand its Asian manufacturing capabilities on the back of the deal.
It plans to create a new biotech R&D hub in the region to work in synergy with Croda’s R&D centre in LePerray, France – part of its Sederma business.
Additionally, Solus’ phospholipids will be incorporated into Croda’s skin care and hair care franchises.
“This is a very exciting opportunity for Croda,” said Luc Emprin, Global Business Director of Sederma.
“Our existing ceramides, currently from Sederma, will be complemented by these natural fermentation-derived ceramides, furthering our portfolio of high efficacy science-based ingredients.
“We are pleased to add Solus' manufacturing site in South Korea to our operations, furthering our growth strategy for this key region.
“Innovation synergies between our different R&D labs will bring additional technical value and business opportunities for our customers all over the world.”