Indena (Milan, Italy) has agreed to sell its cosmetics business to Givaudan (Geneva, Switzerland), a global leader in flavors and fragrances. As part of the agreement, the two companies are also entering into a manufacturing and innovation partnership to support a key role in the active cosmetics industry and sustain the acquisition process.
“We believe that Givaudan, with its very long history and tradition in innovating taste and scent, coupled with its strong commercial presence, is the right partner to further strengthen this business in the future,” said Daniele Giavini, managing director of Indena, in a press release. “Givaudan’s culture and its knowledge of natural cosmetic ingredients, as well as the use of the latest sustainable biotechnologies to create high performing functional products, fit well with the philosophy we have consistently adopted at Indena throughout our history. We are in favour of this transaction, as it enables Indena to focus on its core markets, Pharmaceuticals and Health-food, whilst continuing to support the cosmetic ingredients business which has been a valuable part of our portfolio.”
As part of the long-term partnership, Indena will continue to manufacture ingredients for Givaudan, provide innovation capabilities, and other supporting services. This allows both companies to enhance their capabilities, and focus on their respective core competencies.
“The acquisition of the cosmetics business of Indena fits very well with our long term strategy for Active Beauty,” said Maurizio Volpi, president of Givaudan’s fragrance division, in a press release. “They have an excellent reputation in the market, thanks to the quality of their ingredients, their strong focus on innovation as well as the mastering of their supply chain. It offers Active Beauty an expanded portfolio of plant-based ingredients that nicely complement our current portfolio. We are very confident that the acquisition will further enhance our position as a leading player in the active cosmetic ingredients industry.”