Givaudan, the world’s largest fragrance and flavors supplier, is acquiring certain cosmetic ingredients from California-based biotechnology player Amyris, including its sugarcane-derived squalene, a sustainable alternative to that found in deep-sea shark livers.
Givaudan and Amyris have 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 their innovation capabilities. Givaudan will become the commercialisation partner for future sustainable beauty ingredients.
Ingredients changing hands include Neossance, Neossance Hemisqualane and CleanScreen.
“We share the same values with Givaudan, offering sustainable consumer products to improve people’s life while protecting the environment. Today we are reaching a major new step in our commercial partnership that we are very proud of,” said John Melo, Amyris president and chief executive officer. “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.”
Markus Rassmann, head of active beauty at Givaudan, added: “Today, we have the widest offering of biotech cosmetic ingredients on the market. We are proud to expand our Active Beauty portfolio with these key active cosmetic ingredients. They represent unique added value in answering our customers’ expectations for innovative, sustainable and efficient beauty solutions.”
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.
Source: WWD