The subsidiary’s current focus in on rubber, adhesives, plastics, paints and lacquers, so this acquisition will help the business to expand its existing operations in this important Central European market.
The Polish market for cosmetics and personal care has continued to witness steady growth in recent years, with Market research company Euromonitor forecasting that growth will continue at a CAGR of 3.5% over the next five years, as consumer show more interest in both natural and more personalised products.
Safic-Alcan targets Polish growth opps
Tapping into these prospects, Safic-Alcan believes that the newly acquired business will help it to expand its distribution reach, particularly as it is currently the exclusive distributor for a number of boutique cosmetic and personal care suppliers, including Greentech and Innovia.
“The acquisition of the Cosmetics Partner business will enable us to diversify our range of personal care ingredients and to widen our portfolio offering in Poland”, said Yann Lissillour, director of Mergers and Acquisitions for the Safic-Alcan Group.
According to Safic-Alcan, Cosmetics Partner distributes a wide range of natural ingredients, such as actives, extracts and complexes of extracts, vegetable oils and butters, essentials oils, scrubs and dyes.
“This acquisition will reinforce our presence in Eastern Europe, strengthen relationships with some key suppliers, and provide a solid platform for further growth in the Polish personal care market”, said Philippe Combette, CEO of the Safic-Alcan Group.
North America and China ambitions
In 2015 Safic-Alcan has bought a 75% stake in US-based specialty chemicals distributor ChemSpec for an undisclosed sum, a deal that also gave it access to ChemSpec’s sourcing subsidiaries in China.
Safic-Alcan had wanted to expand its distribution footprint in the North American region, and this acquisition fulfills that requirement, lining the company up for further expansion in the region.
This acquisition was followed by Bulgarian business Chimsnab in 2015, as well as both Kemcare and China-based Sichuan HuaFaMei in 2016.