Global manufacturer of fragrance and cosmetic ingredients Givaudan has reached an agreement with Amyris to acquire major cosmetic ingredients from the biotech company, including high performance emollient Neossance Squalane, plant-based silicone alternative Neossance Hemisqualane and sustainable sun protector CleanScreen.
In addition, Givaudan and Amyris have signed a long-term partnership agreement under which Amyris will continue to manufacture cosmetic ingredients for Givaudan, as well as provide access to their innovation capabilities. Givaudan will become the commercialization partner for future sustainable beauty ingredients.
Both companies have been engaged in the joint research and development of proprietary fragrance ingredients for several years. In 2016, they had announced the extension of their partnership to other areas, including beauty and personal care ingredients.
Amyris creates sustainable ingredients for health, beauty, and fragrance and flavor applications through their proprietary fermentation technology. Amyris ingredients are included in over 20,000 products from the world’s top brands, reaching more than 300 million consumers. Amyris also owns and operates a family of consumer brands (Biossance, Costa Brazil, EcoFabulous Cosmetics, JVN, Pipette, Rose Inc., etc.).
"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 coming from our long-standing partner Amyris. Neossance Squalane, Neossance Hemisqualane and Cleanscreen represent unique added value in answering our customers’ expectations for innovative, sustainable and efficient beauty solutions," commented Markus Rassmann, Head of Active Beauty at Givaudan.
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. Givaudan plans to fund the transaction from existing resources. Further details have not been disclosed.