Croda’s £232 million buy-out of a South Korean beauty product ingredients business has been approved by the regulatory authorities, leading to completion of the deal.
An agreement to acquire Solus Biotech, a leading global player in the premium, biotechnology-derived sector, was reached back in February. It is a move described as giving East Yorkshire-headquartered Croda greater ability to serve luxury beauty customers in Asia and globally. It also expands Croda’s manufacturing capability on the continent.
The approvals and subsequent completion were announced by the FTSE-listed firm to the stock market today.