Company expands ingredients business
Givaudan has acquired 100% of the shares of Induchem Holding and its subsidaries, further expanding its cosmetics ingredients business after several acquisitions earlier this year.
Founded in 1946, Induchem creates innovative active ingredients for cosmetic applications. It is headquartered in Switzerland and currently operates in France and the US, employing a total of 65 people. Induchem currently owns French company Libragen which is included in the acquisition deal. Libragen creates ingredients in four key areas" bio catalysis, fermentation, glucosylation and phosphorylation.
Terms of the deal have not been disclosed, though the company says it will fund the transaction using existing resources.
Gilles Andrier, CEO of Givaudan, commented: "Induchem is a second key step, after the acquisition of Soliance, towards our ambition to make Givaudan a significant player in the Active Cosmetic Business. Induchem brings strong complementary capabilities to Givaudan and will greatly contribute in achieving our 2020 ambition to become a key player in this fast growing business. We are delighted to welcome Induchem’s employees to Givaudan; our high cultural fit will contribute greatly to a successful integration.”
Maurizio Volpi, President of Givaudan's Fragrance Division, added: “We expect Induchem to become an integral part of the Active Cosmetic Ingredients business within the Fragrance Division. We expect to integrate Givaudan ACI and Induchem, hence expanding our portfolio of products and creating a strong R&D and marketing platform to drive future growth in this space. Induchem has a strong track record in innovation which can bring value to our customers and to their consumers. Induchem has developed a very strong brand, an innovative portfolio of products, and very strong talent that we will continue to develop with the Induchem team for a successful future together”