Croda to acquire a company specialized in biobased ceramides
Type of post: NEWS IN BRIEF.
Croda has agreed to acquire Solus, a company specialized in biotechnology-derived beauty actives, from Solus Advanced Materials.
Press release: "Acquisition of Solus Biotech expands fast growth Beauty Actives business in Asia", 06/02/2023.
The acquisition provides access to Solus’ existing biotech-derived ceramide and phospholipid technologies, and its emerging capabilities in natural retinol. This acquisition will significantly strengthen Croda’s Beauty Actives portfolio and increases its exposure to targeted prestige segments. Located in South Korea, Solus expands Croda’s Asian manufacturing capability and will create a new biotechnology R&D hub in the region.
Solus is a leading supplier of naturally derived powder ceramides, a high-growth global market with further potential to extend into formulated ceramides. The number of new personal care products containing ceramides has doubled over the last five years, principally for skin care but increasingly for hair care formulations. Access to Croda’s formulation capabilities will accelerate development of Solus’ formulated ceramides to create even greater value for our customers globally and address exciting, formulated ceramide demand.