Indena has signed the agreement which completes the sale of its cosmetics business to Givaudan. In order to sustain the acquisition process, the two companies have established a manufacturing and innovation partnership.
“We believe that Givaudan, with its very long history and tradition in innovating taste and scent, coupled with its strong commercial presence, is the right partner to further strengthen this business in the future," said Daniele Giavini, managing director of Indena."Givaudan’s culture and its knowledge of natural cosmetic ingredients, as well as the use of the latest sustainable biotechnologies to create high performing functional products, fit well with the philosophy we have consistently adopted at Indena throughout our history. We have been in favour of this deal as it enables Indena to fully manage, focus on and expand its growing core markets, Pharmaceuticals and Healthfood, whilst continuing to support the cosmetic ingredients business which has been a valuable part of our portfolio."
Based on the long term partnership agreement signed by Indena and Givaudan, Indena will continue to manufacture ingredients for Givaudan and to provide innovation capabilities and other supporting services. This partnership will allow both companies to enhance their capabilities and to focus on their respective core competencies, a win-win strategy to the benefit of customers and consumers.
Maurizio Volpi, President of Givaudan’s Fragrance Division said: “The acquisition of the cosmetics business of Indena fits very well with our long term strategy for Active Beauty. They have an excellent reputation in the market, thanks to the quality of their ingredients, their strong focus on innovation as well as the mastering of their supply chain. It offers Active Beauty an expanded portfolio of plant based ingredients that nicely complement our current portfolio. We are very confident that the acquisition will further enhance our position as a leading player in the active cosmetic ingredients industry.”
