Customers are set to benefit from the full formulation development made possible by the acquisition
Speciality chemicals giant Croda has announced its purchase of Spain-based fragrance and flavour company Iberchem for €820m on a debt-free, cash-free basis.
Iberchem has been majority-owned by French investment firm Eurazeo since 2017.
It is anticipated that the complementary operations of the two companies will create additional value for customers, as many cosmetics makers require both ingredients and fragrances, and can benefit from the collaborative thinking and full formulation development made possible by the acquisition.
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