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Solvay named preferred bidder for Korean ceramide firm Solus Biotech

​Belgian chemicals producer Solvay is the preferred bidder to acquire South Korea’s leading ceramides provider Solus Biotech, according to local media reports.

The Korea Economic Daily cited sources saying the deal is expected to be valued at around 350 billion won ($275m) for a 100% stake.

If successful, Solvay would beat off other bidders including Evonik, Croda International and US food processing firm ADM.

BASF was also said to be interested in acquiring Solus Biotech, which dominates the Korean ceramide market and supplies ingredients to personal care giant L'Oreal.

Solus Biotech biomaterial was split off from Korean copper foil maker Solus Advanced Materials in 2021.

The Seoul firm is forecast to post 2022 revenue of 50 billion won and 10 billion won in earnings before interest, taxes, depreciation and amortization.

See more about Solvay

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Upcoming Events

in-cosmetics Global

Paris Expo Porte de Versailles
16th – 18th April 2024

NYSCC Suppliers' Day 2024

Javits Center, New York
1st - 2nd May 2024

9th Anti-Ageing Skin Care Conference

Royal College of Physicians, London
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Hall C, Coex, Seoul, South Korea
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in-cosmetics Latin America 2024

São Paulo, Brazil
25th - 26th September 2024

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Recanto das Cataratas Thermas Resort, Iguazu Falls, Brazil
14th - 17th October 2024

Access the latest issue of Personal Care Magazine on your mobile device together with an archive of back issues.

Download the FREE Personal Care Magazine app from your device's App store

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