Clariant and South Korean BioSpectrum agree strategic partnership
- BioSpectrum is a leading provider of natural active ingredients for Personal Care with strong scientific capabilities in bioassay and claim substantiation
- Clariant will become anchor shareholder and exclusive global distributor
- Strategic partnership will combine Biospectrum's research strengths with Clariant's formulations expertise and global presence
Currently a family-owned business, BioSpectrum will remain an independently managed company. Clariant will leverage its global sales and innovation network to market BioSpectrum's product portfolio of active ingredients worldwide, with the exception of Korea.
"The transaction will allow us to expand in the strategically important and growing global markets for Personal Care applications. Our investment in BioSpectrum will give us further access to highly innovative active ingredients based on renewable raw materials. This corresponds to a growing consumer demand for natural cosmetic ingredients, not only in the emerging markets of Asia but worldwide", said Hariolf Kottmann, CEO of Clariant.
Christian Vang, Head of Business Unit Industrial & Consumer Specialties (BU ICS) at Clariant, commented: "We are pleased about the strategic partnership with BioSpectrum. The transaction will further enhance our earlier investment in the partnership with Beraca in Latin America and leverages on our global customer platform through exclusive distributorship. This strategic investment strengthens and significantly enlarges Clariant's active ingredient portfolio, reinforcing our ability to deliver a comprehensive range of natural, sustainable and effective formulations to the Personal Care industry."
Dr. Deok-Hoon Park, CEO of BioSpectrum, added: "This partnership with Clariant will be a key step in BioSpectrum's growth. We will have a strong partner on-board supporting our fast and ambitious expansion plans and we foresee tremendous innovation synergies that will lead us to create more value for customers around the world."
BioSpectrum is renowned for its experience in researching and developing natural raw materials that can be used in skin and hair care products. The company has strong scientific capabilities in bioassay, efficacy testing and claim substantiation,which allows the design and development of high-quality actives ingredients for the cosmetics industry. All of the ingredients are based on state-of-the-art technology and have been widely tested and developed to meet the demands and trends of the cosmetics industry.
BioSpectrum's portfolio of functional ingredients is derived from natural products and extracts from exotic Asian plants, in particular those found on the South Korean Jeju Island – an isolated mountain formed by volcanic eruption and featuring over 1,800 plant species. Its formulation ingredients include active compounds offering moisturizing, whitening, anti-aging, wound healing, anti-acne, skin soothing, anti-inflammation, anti-dandruff, detoxification and body slimming effects.
This information corresponds to the present state of our knowledge and is intended as a general description of our products and their possible applications. Clariant makes no warranties, express or implied, as to the information’s accuracy, adequacy, sufficiency or freedom from defect and assumes no liability in connection with any use of this information. Any user of this product is responsible for determining the suitability of Clariant’s products for its particular application.<br /> <br /> * Nothing included in this information waives any of Clariant’s General Terms and Conditions of Sale, which control unless it agrees otherwise in writing. Any existing intellectual/industrial property rights must be observed. Due to possible changes in our products and applicable national and international regulations and laws, the status of our products could change. Material Safety Data Sheets providing safety precautions, that should be observed when handling or storing Clariant products, are available upon request and are provided in compliance with applicable law. You should obtain and review the applicable Material Safety Data Sheet information before handling any of these products. For additional information, please contact Clariant.<br /> <br /> * For sales to customers located within the United States and Canada the following applies in addition: No express or implied warranty is made of the merchantability, suitability, fitness for a particular purpose or otherwise of any product or service.<br /> <br /> © Trademark of Clariant registered in many countries.<br /> ® 2019 Clariant International Ltd