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Givaudan bags Induchem31.08.2015 In order to boost its active cosmetic ingredients business, the Swiss flavour and fragrance giant Givaudan has acquired Volketswil-based Induchem Holding and all its subsidiaries.The Latest Catch is brought to you by European Biotechnology News
Just last week, Givaudan announced its rather modest ambitions for the next five years, with a slightly reduced growth goal. In one respect, however, the company is all but modest: Givaudan wants to take over a leading role in the active cosmetic ingredients business. To reach this goal, the flavour and fragrances company has acquired 100% of Induchem Holding AG’s shares, and all its subsidiaries for an undisclosed sum. “Induchem’s business would have represented approximately CHF 25 million (€23m) of incremental sales to Givaudan’s results in 2014 on a proforma basis,” Givaudan said in a press release.
Induchem, which primarily operates from Volketswil, Switzerland, Toulouse, France and New York, USA, has a product portfolio based on a wide range of active ingredients on offer. With the acquisition, Givaudan will also get access to Induchem’s research expertise in fields such as biocatalysis, metagenomics, and biochemical synthesis. French Induchem subsidiary Libragen is a French biotech that carries out research for the discovery and development of active cosmetic ingredients.
Gilles Andrier, CEO of Givaudan, said: “Induchem is a second key step, after the acquisition of Soliance, towards our ambition to make Givaudan a significant player in the Active Cosmetic Business. Induchem brings strong complementary capabilities to Givaudan and will greatly contribute in achieving our 2020 ambition to become a key player in this fast growing business.”
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