Givaudan to Acquire Synthetic Biotech Amyris Cosmetic Line
- Chaileedo Press
- Feb 23, 2023
- 2 min read
Updated: Apr 3, 2023
For this acquisition, Givaudan says it will support its active beauty business. Going forward, Givaudan will continue to drive biotechnology.
On February 22, Givaudan, a leading global fragrance and beauty innovation company, announced that it has entered into an agreement with synthetic biohead company Amyris to acquire some of Amyris' cosmetic ingredients, including the highest performance emollient Neossance® Squalane, the plant-based silicone alternative Neossance® Hemisqualane and the CleanScreen™, a sustainable sunscreen.
As part of Givaudan's 2025 strategy, this acquisition partnership will provide the company with new premium products to expand its active beauty business. Givaudan and Amyris have signed a long-term collaboration agreement under which Amyris will continue to produce ingredients for Givaudan for cosmetic use and this fragrance and beauty company will become a commercialisation partner for future sustainable beauty ingredients.
Amyris is a leading biotechnology company accelerating the world's transition to sustainable consumption through its technology platform in the beauty, health and wellness and flavours and fragrances markets. In addition to its ingredients business, Amyris comprises several beauty brands such as Biossance, Stripes, JVN, Rose Inc and others. According to Amyris' H1 2022 results, the Consumer Products division, where its beauty brands are located, reported sales of $77.5 million, up 113%. The technology division, where the ingredients business is based, generated sales of $45.4 million, up 16% year-on-year.
Givaudan has established a significant partnership with Amyris to leverage the Amyris technology platform to design, scale and manufacture best performing biofermented ingredients.
Commenting on the strategic partnership, Maurizio Volpi, Maurizio Volpi, President Givaudan Fragrance & Beauty, said, "I am delighted about this transaction, which fits perfectly with our 2025 strategic ambitions to develop our active beauty business while leveraging our biotechnology leadership in partnership with Amyris’ expertise. In the future, we will continue to push the boundaries of biotech, creating new sustainable innovations for a better beauty future."
John Melo, Amyris President and Chief Executive Officer, said Amyris is able to offer differentiated sustainable ingredients that are exactly what consumers are looking for. And, these ingredients will keep Givaudan on the leading edge. The deal provides funding for Amyris to grow and achieve operational profitability.
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