02.22.23
Givaudan has reached an agreement to acquire certain cosmetic ingredients from biotech company Amyris, Inc., including Neossance Squalane, Neossance Hemisqualane and a suncare ingredient called CleanScreen.
The companies signed a long-term partnership agreement under which Amyris will continue to manufacture ingredients for Givaudan to use in cosmetics, as well as provide access to its innovation capabilities. Further, Givaudan will become the commercialization partner for future sustainable beauty ingredients.
The terms of the deal include a combination of an upfront cash consideration and a performance based earnout, along with a long-term manufacturing agreement. Givaudan plans to fund the transaction from existing resources.
Further details have not been disclosed.
Amyris' active cosmetic ingredients business would have represented approximately $30 million of incremental sales to Givaudan's results in 2022 on a proforma basis.
"We share the same values with Givaudan, offering sustainable consumer products to improve peoples' lives while protecting the environment," said John Melo, Amyris president and CEO. "Today we are reaching a major new step in our commercial partnership that we are very proud of. Our technology and biomanufacturing capabilities deliver truly differentiated sustainable ingredients that are what consumers are demanding and enable our partners to lead in their markets. This transaction is a major step forward in funding our growth and enabling us to reach operating profitability."
"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,” said Maurizio Volpi, President Fragrance & Beauty, Givaudan.
Markus Rassmann, head of Active Beauty at Givaudan, said Neossance Squalane, Neossance Hemisqualane and Cleanscreen “represent unique added value in answering our customers' expectations for innovative, sustainable and efficient beauty solutions."
Closing of the transaction is subject to customary review and approvals from the relevant regulatory authorities.
Amyris also owns and operates a family of consumer brands.
The companies signed a long-term partnership agreement under which Amyris will continue to manufacture ingredients for Givaudan to use in cosmetics, as well as provide access to its innovation capabilities. Further, Givaudan will become the commercialization partner for future sustainable beauty ingredients.
The terms of the deal include a combination of an upfront cash consideration and a performance based earnout, along with a long-term manufacturing agreement. Givaudan plans to fund the transaction from existing resources.
Further details have not been disclosed.
Amyris' active cosmetic ingredients business would have represented approximately $30 million of incremental sales to Givaudan's results in 2022 on a proforma basis.
Active Ingredients
Amyris and Givaudan said they have a significant partnership to leverage the value of Amyris' technology platform for designing, scaling and manufacturing the “best performing” biofermented ingredients."We share the same values with Givaudan, offering sustainable consumer products to improve peoples' lives while protecting the environment," said John Melo, Amyris president and CEO. "Today we are reaching a major new step in our commercial partnership that we are very proud of. Our technology and biomanufacturing capabilities deliver truly differentiated sustainable ingredients that are what consumers are demanding and enable our partners to lead in their markets. This transaction is a major step forward in funding our growth and enabling us to reach operating profitability."
"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,” said Maurizio Volpi, President Fragrance & Beauty, Givaudan.
Markus Rassmann, head of Active Beauty at Givaudan, said Neossance Squalane, Neossance Hemisqualane and Cleanscreen “represent unique added value in answering our customers' expectations for innovative, sustainable and efficient beauty solutions."
Closing of the transaction is subject to customary review and approvals from the relevant regulatory authorities.
Amyris also owns and operates a family of consumer brands.