Sumitomo Corporation and its wholly-owned subsidiary Sumitomo Corporation of America, jointly known as Sumitomo, have entered an agreement to acquire Presperse LLC, a leading global formulator and distributor of specialty ingredients and formulated solutions for the cosmetic and personal care markets.
By increasing their overall investment in the company, Sumitomo will expand their presence in the global cosmetics market and expects Presperse LLC to further grow in international markets such as Central and Eastern Europe, Latin America, China and Southeast Asia as well as Japan. Presperse’s leadership team will for the most part remain the same, with Greg Torchiana as president and CEO, and Jeanette Black becoming chairman emeritus, and Stuart Axelrod assuming the role of senior executive advisor , keeping the commitment to valuable customers and suppliers.
Presperse will maintain its focus on major product areas including: Permethyl and SiClone specialty hydrocarbons, spherical powders, marine active ingredients, mineral powders, physical sunscreens, botanical actives, and Bismuth-based pigments. In addition to the existing technology and ingredients,
Presperse is now planning to start offering new technologies and product lines for the skin care market, tapping into Sumitomo’s strength in the Bio-Venture and Pharmaceuticals industry which will contribute to future growth in the cosmetic and personal care industry.
According to Greg Torchiana, president & CEO of Presperse: “We have strong confidence in Sumitomo’s investment strategy and international capabilities which provide us with opportunities to reach into global markets and source new, innovative technology. Additionally, with the enhanced quality of our research & development laboratory and IP strategy, Presperse will be able to offer more advanced active ingredient technology to the cosmetic market through collaboration with the Life Science Division at Sumitomo Corporation Tokyo Head office.”
