Solabia has acquired a majority stake in Applechem, a US-based cosmetics technology producer.
Founded in 2003 by Dr. Samuel Lin within the Enterprise Development Centre of the New Jersey Institute of Technology, Applechem supplies a diverse range of ingredients for cosmetics, personal care and sun care formulations.
Solabia said the acquisition is part of the Paris-based firm’s strategy to offer a wider range of ingredients and to strengthen its market position as customers in personal care industry increasingly look for high-performance, easy-to-use ingredients.
It will also contribute to strengthen Solabia’s presence in the strategic US market, while providing new development opportunities to both companies in Europe and in Asia.
“This operation will allow both companies to benefit from their combined know-how, and to offer a broader portfolio of high-performance ingredients to an expanded customer base,” said chief executive Jean-Baptiste Dellon.
“It also fully supports our international development strategy and showcases our ability to attract successful companies into Solabia Group as we look to grow our business in markets with strong potential,” he added.
Dr. Lin will retain a minority share and remains CEO of Applechem.
“By combining Applechem’s specialty ingredient solutions with Solabia’s excellent actives portfolio, this new partnership will enable us to better serve our customers globally,” he said.
“Joining with the Solabia Group will allow our collective expertise in specialty functional ingredient technologies and high-performance bio-active platforms to accelerate the development of new innovative cosmetic ingredients.”
