Biotechnology company acquires marine ingredients
ingredient supplier Siricie. The €1.6 million cash deal
demonstrates the trend of biotechnology companies moving further
towards novel products.
Based in Paris, Siricie's Lanatech division has a portfolio of products and active ingredients drawn on marine life that are geared towards the cosmetics industry. Generating revenues of more than €2 million, its Iris division also specialises in quality control and consumer reports for cosmetics fields in Europe, Asia and the Americas.
"Obtaining Siricie essentially allows us to offer a dozen additional novel active ingredients to our customers. The acquisition is part of the second stage of our growth strategy which aims at enhancing our portfolio of novel products in order to broaden our offer to customers," said Luc Dupont, vice chairman of the board at Atrium.
In its fourth acquisition in two years, Atrium Biotechnologies, the subsidary of Æterna Laboratories has now acquired 100 per cent of all issued and outstanding shares of Siricie.
Founded in 2000, Atrium develops and markets active ingredients and speciality fine chemicals for the cosmetics, chemical, pharmaceutical and nutritional industries. Its international customers including Estée Lauder, L'Oréal, Clarins and Chanel.
International trade has enabled Atrium to generate significant growth in sales and earnings since the company was founded in January 2000. As the company branches further into novel products it is hoped that sales will exceed its €85 million bench mark reported at year end 2002.
