Lubrizol Signs Agreement to Acquire Lipotec
(Thomson Reuters ONE) -
Supports company's strategy to enhance its personal care portfolio
with high-performance, claims-driving ingredients
CLEVELAND, June 20, 2012 - The Lubrizol Corporation announces that it has signed
an agreement to purchase Lipotec SA, a leader in the development, manufacturing
and sale of personal care ingredients based on three core technologies: peptide-
based active cosmetic ingredients, delivery systems and biotechnology products.
The purchase includes Lipotec's cosmetic active ingredients business and its
subsidiaries, Diverdrugs and Lipofoods. This acquisition complements Lubrizol's
global personal care ingredients business, strengthening its offering of high-
performance technology solutions to marketers of formulated skin care products.
Founded in 1987 and headquartered in Barcelona, Spain, Lipotec, part of Lipotec
Group, is a leading global supplier of cosmetic peptides, a key performance
ingredient in skin care products. In addition to peptides and delivery systems,
Lipotec has a growing business in biotechnology ingredients for personal care.
Recognized Lipotec brands include Argireline(®), Snap 8, Antarcticine(®) and
Eyeseryl(®).
Diverdrugs is the research and development division of Lipotec, specializing in
new active compounds in the field of cosmetics and dermatology. Lipofoods
develops and manufactures functional health ingredients for the food and
beverage industry. The current owners of Lipotec Group will continue their
activities in the pharmaceutical and cosmetic finished goods segments through
BCN Peptides, GP Pharm and Prima-Derm which are not part of this transaction.
"This acquisition follows our 2011 acquisitions of Nalco's conditioning polymer
business and Active Organics botanical extracts and natural performance
ingredients," commented Rick Tolin, Lubrizol vice president and general manager,
personal and home care. "Adding Lipotec further illustrates our commitment to
providing a broad product portfolio, new technology and applications expertise
that enhance Lubrizol's ability to make customers successful through expanded
access to innovative ingredients."
Lipotec has a strong history of innovation and focuses on high-performance
applications in skin care that include anti-aging, anti-wrinkle, sensitive skin
protection and moisturizing. This innovation is exemplified by Argireline, one
of the most successful active ingredients ever launched in the cosmetic market.
The company serves an international portfolio of customers in more than 45
countries, from multinational corporations to regional leaders.
"This agreement opens new and exciting doors for Lipotec, not only in terms of
growing the company's business but also the potential to provide career
opportunities to Lipotec employees. Both companies have complementary
portfolios, which allow us to leverage our combined technologies, offering
innovative solutions to our global customers," said Jose Maria Garcia Anton,
Lipotec president.
Once the transaction closes, Lipotec will become a part of Lubrizol Advanced
Materials, with Lipotec, Diverdrugs and Lipofoods retaining their respective
names. Financial terms of the agreement were not disclosed. The transaction is
expected to close within 60 days, subject to normal closing conditions. Deloitte
Corporate Finance in Spain and Deloitte Abogados served as exclusive financial
and legal transaction advisors to Lipotec.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is an innovative
specialty chemical company that produces and supplies technologies to customers
in the global transportation, industrial and consumer markets. These
technologies include lubricant additives for engine oils, other transportation-
related fluids and industrial lubricants, as well as fuel additives for gasoline
and diesel fuel. In addition, Lubrizol makes ingredients and additives for
personal care products and pharmaceuticals; specialty materials, including
plastics technology and performance coatings in the form of specialty resins and
additives. Lubrizol's industry-leading technologies in additives, ingredients
and compounds enhance the quality, performance and value of customers' products,
while reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and operates
manufacturing facilities in 17 countries, as well as sales and technical offices
around the world. Founded in 1928, Lubrizol has approximately 7,000 employees
worldwide. Revenues for 2011 were $6.1 billion. For more information, visit
www.lubrizol.com.
About Lipotec SA
Lipotec is a privately owned company founded in 1987 with strong links to both
academia and pharmaceutical industry. These links have been responsible for the
innovative spirit of the company from the beginning and they are reflected by
the highly trained and skilled staff.
The thorough updating of the company's know-how platforms, molecular cosmetics
and delivery systems, together with the heavy investment in advanced techniques
(combinatorial chemistry, molecular modelling, functional genomics, high
throughput screening, solid phase peptide synthesis and recently
biotechnological methods) and the direct access to state-of-the art technology,
helps Lipotec to develop a full range of active ingredients, as well as enter
into new cosmetic applications fields, such as cosmetotextiles and
nutricosmetics.
Lipotec presents to the cosmetic industry all its innovations through six
product families (Aimtec(TM), Biointec(TM), Vectortec(TM), µFilmtec(TM),
Insidetec(TM) and Quiotec(TM)) which provide the market an unlimited range of
innovative active ingredients.
Headquartered in Gavà, Barcelona (Spain), the company has a strong presence
worldwide through a well-connected network of distributors and its own
subsidiaries in the United States, France, Germany, Italy, Singapore and
Australia. For more information, visit www.lipotec.com.
Media Contacts
Julie Young
The Lubrizol Corporation
440/347-4432
Website: www.lubrizol.com
Raquel Merino
Lipotec S.A.
+34 93 638-8000
Website: www.lipotec.com
###
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Source: Lubrizol via Thomson Reuters ONE
[HUG#1620450]
Unternehmensinformation / Kurzprofil:
Datum: 20.06.2012 - 08:01 Uhr
Sprache: Deutsch
News-ID 158101
Anzahl Zeichen: 7477
contact information:
Town:
Wickliffe, Ohio
Kategorie:
Business News
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