Givaudan to acquire cosmetics business of Indena
Givaudan has agreed to acquire the cosmetics business of Indena on undisclosed terms. The two also intend to conclude a long-term partnership agreement under which Indena will continue to manufacture ingredients and provide other services for Givaudan. The acquired business had sales of about €8 million in 2018.
Indena is based in Milan and rooted in phytochemistry. It is mainly active in pharmaceuticals and health food, on which it will now focus, but had also developed a base in personal care. Acquiring this portfolio of plant-based ingredients, according to Givaudan, is part of its 2020 strategy to expand the capabilities of its Active Beauty business.
This follows Givaudan’s much larger agreement in early November to acquire Ungerer & Company, a flavours, fragrances and speciality ingredients producer headquartered in New Jersey. This added eight manufacturing facilities, six R&D centres and 650 employees to the company’s core businesses. Ungerer had sales of about $250 million in 2018.