Clariant forged ahead strategic partnership with natural cosmetic ingredients provider
- Clariant closed the transaction on strategic investment in South Korea-based natural active ingredient provider BioSpectrum
- Clariant acquired 17% share in BioSpectrum and exclusive rights to market BioSpectrum's active ingredients worldwide, except in Korea
- Naturally-derived active ingredients will strengthen Clariant's portfolio to deliver more comprehensive range of products to the Personal Care industry
Shanghai, May 30, 2016 – Clariant, a world-leader in specialty chemicals, has successfully closed its transaction on strategic investment in South Korean developer and supplier of nature active ingredients BioSpectrum by the end of last week. The partnership will allow Clariant to tap into BioSpectrum's strong experience and resources in researching and developing natural raw materials for the cosmetic industry. BioSpectrum, on the other hand, can take advantage of Clariant's existing global sales and innovation network to distribute its products worldwide, except in Korea.
"The strategic alliance with Biospectrum fits perfectly with Clariant’s growth strategy and strengthens our capabilities in attractive growth areas. It significantly broadens our active ingredients’ portfolio, reinforcing our ability to deliver a comprehensive range of natural, sustainable and effective formulation products to the Personal Care industry worldwide," said Stephan Lynen, Head of Business Unit Industrial & Consumer Specialties, Asia Pacific.
The transaction is in line with Clariant's strategy to expand in the strategically important global markets for Personal Care applications. With BioSpectrum, Clariant will get better access to highly innovative active ingredients based on renewable raw materials to further satisfy the growing demand for comprehensive solutions including natural cosmetic ingredients.”
“In view of the dramatic improvement in standards of living as well as the dynamic economic growth in Asia, we see great growth potential that this strategic partnership can bring to us. It will allow us to better respond to the increasing consumer demand for natural cosmetic ingredients,” said Jan Kreibaum, Regional President of Greater China and Korea.
BioSpectrum, a family-owned business known for its strong scientific capabilities in bioassay, efficacy testing and claim substantiation, will remain an independently managed company after the transaction. Most of the company's functional ingredients are derived from natural products and extracts from exotic Asian plants, particularly those found on the Jeju Island in South Korea, where over 1,800 plant species have been formed as a result of volcanic eruption.
In 2015, Clariant formed a similar strategic partnership with Beraca in Brazil by acquiring 30% share of the company. The strategic alliance formed with Beraca allowed Clariant to enrich its portfolio to provide customers with unique and exclusive access to cherished ingredients from Brazil.
