Givaudan, the Swiss cosmetic ingredients and fragrance maker, is acquiring a portfolio of cosmetic hero ingredients from Amyris.
These include the Neossance Squalane emollient; Neossance Hemisqualane, a plant-based silicone alternative; and CleanScreen, a sustainable sun protection solution.
The biotechnology-derived ingredients have previously been sold under Amyris’ Aprinnova business.
Under a long-term partnership agreement signed by the two companies, Amyris will continue to manufacture ingredients for Givaudan to use in cosmetics and provide the company with access to its innovation capabilities.
In return, Givaudan will be the commercialisation partner for Amyris’ future sustainable beauty ingredients.
“I am delighted about this transaction, which fits perfectly with our 2025 strategic ambitions to develop our active beauty business while leveraging our biotechnology leadership in partnership with Amyris’ expertise,” commented Maurizio Volpi, President of Givaudan Fragrance & Beauty.
“In the future, we will continue to push the boundaries of biotech, creating new sustainable innovations for a better beauty future.”
“We share the same values with Givaudan, offering sustainable consumer products to improve people’s life while protecting the environment,” added John Melo, Amyris’ President and CEO.
“Today we are reaching a major new step in our commercial partnership that we are very proud of.
“Our technology and biomanufacturing capabilities deliver truly differentiated sustainable ingredients that are what consumers are demanding and enable our partners to lead in their markets.
“This transaction is a major step forward in funding our growth and enabling us to reach operating profitability.”
The terms of the deal include a combination of an upfront, undisclosed cash consideration and a performance based earnout, alongside the long-term manufacturing agreement.
The deal is subject to formal approvals from the relevant regulatory authorities and is expected to close in the first half of 2023.
An Amyris spokesperson told Cosmetics Business that Aprinnova would continue to operate as an entity that is a part of Amyris and will continue to manufacture the ingredients.
The go-to-market of the ingredients subject to this transaction, however, will be via Givaudan as the commercial partner.
Investing in active ingredients
Much of Givaudan’s Active Beauty business’ recent innovation drive has been based on biotechnology, including its newest ingredients, chin and jawline refining Gravityl and RetiLife, the first 100% naturally-sourced retinol.
And it is not the only company of its kind backing biotech.
Earlier this month, Symrise bought a minority stake in Synergio, a Jerusalem-based biotech firm specialising in natural antimicrobials.
Also in February, Croda acquired South Korea’s Solus Biotech, best know for its ceramides and phospholipids production.
Even L’Oréal is investing.
The beauty giant purchased a minority stake in French biotech firm and microalgae manufacturer Microphyt in November last year.