MOSCOW (MRC) -- Givaudan (Vernier, Switzerland) says it is acquiring French biotechnology company Alderys (Orsay, France) as part of its long-term strategy to expand its capabilities in bioengineering technologies, said S&P Global.
No value for the transaction has been given, although Givaudan says Alderys’ business would have represented EUR3 million (USD3.3 million) of incremental revenue to its results in 2019 on a proforma basis. The transaction will be funded from existing resources, it adds.
Alderys, founded in 2009, develops innovative approaches to the biological engineering of valuable compounds from renewable plant feedstock. The projects it develops are aimed at the chemical and cosmetic industry sectors, as well as nutrition, and are “fully complementary” to Givaudan’s fragrance and active beauty businesses, according to Givaudan.
"It will allow us to expand our portfolio of natural and biosourced products, thanks to their strong research and development bioengineering platform. It will be an additional tool to drive our future development and innovation in the active cosmetic ingredients space and beyond,” says Maurizio Volpi, president/fragrance division at Givaudan. “Alderys has a strong track record in designing innovative biological pathways to produce environmentally-friendly raw materials, which is essential to the way we develop our cosmetic ingredients,” adds Laurent Bourdeau, head of Givaudan’s active beauty business.
The proposed acquisition remains subject to formal approvals from the relevant regulatory authorities, with the transaction expected to close in the second quarter of 2020.
As MRC informed earlier, Russia's output of chemical products rose in June 2020 by 2.6% year on year. However, production of basic chemicals increased year on year by 4.9% in the first six months of 2020. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the output in January-June. Production of benzene was 106,000 tonnes in June 2020, compared to 110,000 tonnes a month earlier. Overall output of this product reached 721,000 tonnes over the stated period, up by 3.9% year on year.
MRC