French personal care supplier Sophim has acquired compatriots Novastell, a supplier of nutritional and functional ingredients.
Novastell's portfolio includes a diverse array of functional lecithins, nutritional phospholipids, plant-based specialties and oils.
Alpes de Haute Provence-based Sophim said the acquisition is a strategic play to extend its influence in the nutraceutical sector.
“Synergies between cosmetics and nutraceuticals are increasingly numerous. This acquisition will enable us to accelerate our growth and bring new products to market more quickly,” added CEO Jacques Margnat.
The acquisition is expected to boost Sophim’s total workforce to 80.
Sophim managing director Alexis Margnat added: "This acquisition is of particular importance given the convergence of our business models: Novastell, as Sophim, valorizes byproducts from the edible oils industry to create ingredients for the nutraceutical industry.
“This match not only reflects our shared values, but also responds to market dynamics, reinforcing the strategic relevance of our merger”.
