Indian manufacturer Eternis Fine Chemicals has acquired 100% of Israeli cosmetic ingredients maker Sharon Personal Care.
The Mumbai-based firm’s new assets include Sharon's innovation labs and manufacturing capabilities in Italy and Israel, distribution sites in the US, Italy, Germany, and France, as well as its global distribution network.
Sharon will maintain its product lines under the same brand name but with a modified identity infused with elements of Eternis, which is a wholly-owned family business founded in 1988 originally as Hindustan Polyamides and Fibres.
Rebranded as Eternis Fine Chemicals in 2015, the company has four manufacturing facilities in the Indian state of Maharashtra with a total capacity of over 66,000 tons per year of aroma chemicals.
Eternis, which has a turnover of over $250m and over 600 employees, said the acquisition widens its portfolio into the growing personal care segment.
“The addition of this large personal care pure-play and high-end manufacturer enhances our business and brings with it many strategic advantages,” said CEO Wilfrid Gambade.
“This acquisition will further establish ourselves in Europe and US, with the ability to service our customers with products under new segment from the sites, stock hubs and offices there,” he added.
Sharon Personal Care CEO Naama Eylon said: “Our combined manufacturing and distribution footprints across India, Europe, Asia and US will offer a robust supply chain.
“Further, this partnership will enable us to reach Asia-Pacific with personal care products ensuring more customers can experience the brand’s high-quality and innovative offerings,” she added.
“On a personal note, as a leader, I’m happy for the exciting times to come, where we will plug-in and continue to grow & innovate.”
