Lubrizol to acquire Lipotec

20-Jun-2012

The transaction includes Lipotec and its subsidiaries Diverdrugs and Lipofoods

Lubrizol Corporation has signed an agreement to acquire personal care ingredients manufacturer Lipotec, the corporation announced today. The purchase includes Lipotec’s cosmetics active ingredients business and its subsidiaries Diverdrugs and Lipofoods.

Lipotec will become part of Lubrizol Advanced Materials with both Lipotec and the two subsidiaries retaining their respective names. The transaction is expected to close within 60 days.

Diverdrugs is the research and development division of Lipotec, specialising in new active compounds for cosmetics and dermatology. Lipofoods develops and manufactures functional health ingredients for the food and beverage industry.

“This acquisition follows our 2011 acquisitions of Nalco’s conditioning polymer business and Active Organics botanical extracts and natural performance ingredients,” said Rick Tolin, Lubrizol vp and general manager, personal home care.

“Adding Lipotec further illustrates our commitment to providing a broad product portfolio, new technology and applications expertise that enhance Lubrizol’s ability to make customers successful through expanded access to innovative ingredients.”

Lipotec president Jose Maria Garcia Anton added: “This agreement opens new and exciting doors for Lipotec, not only in terms of growing the company’s business but also the potential to provide career opportunities to Lipotec employees. Both companies have complementary portfolios, which allow us to leverage our combined technologies, offering innovative solutions to our global customers.”

The current owners of Lipotec, which was founded as a privately owned company in 1987, will continue their activities in the cosmetic and pharmaceutical finished goods segments through BCN Peptides, GP Pharm and Prima-Derm which are not part of this transaction.

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