Barcelona-headquartered Lipotec has developed peptide-based active cosmetic ingredients, delivery systems and biotechnology products for the skin care market for 25 years, and Lubrizol hopes this will further strengthen its growing personal care presence.
"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."
Strengthening in cosmetics
As part of the deal, which Lubrizol says complements its global personal care ingredients business, particularly in skin care; the US-based company will also purchase Lipotec’s subsidiaries, Diverdrugs and Lipofoods.
Diverdrugs is the research and development division of Lipotec, specializing in new active compounds in the field of cosmetics and dermatology, whilst 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 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,” said Jose Maria Garcia Anton, Lipotec president.
“Both companies have complementary portfolios, which allow us to leverage our combined technologies, offering innovative solutions to our global customers.”
Once the transaction closes, Lipotec will become a part of Lubrizol Advanced Materials, with Lipotec, Diverdrugs and Lipofoods retaining their respective names.