A £232 million buy-out of a South Korean beauty product ingredients business has been agreed by Croda International.
The FTSE-listed smart science specialist will take on Solus Biotech, a leading supplier of naturally derived powder ceramides, a high-growth international market. It is a deal that is described as giving Croda greater ability to serve luxury beauty customers in Asia and globally.
The number of products featuring ceramides - moisture-loss preventing waxy lipid molecules - has doubled over the past five years, and they are used principally for skin care but increasingly for hair care formulations.
