UK’s Croda acquires US personal care ingredients business

14 January 2013 16:14  [Source: ICIS news]

LONDON (ICIS)--UK-based Croda has acquired Innovachem, a US-based producer of personal care ingredients, the specialty chemicals company said on Monday.

Croda is to pay $2.8m (€2.1m) in cash for the company, which has a range of patented personal care ingredients in its portfolio.

Innovachem – based in Cutchogue, New York – generated a turnover of around $1.5m in 2012, Croda added.

The acquisition is an excellent strategic fit for Croda's personal care business, adding a number of new product lines and technologies to its existing portfolio,” the company said in a regulatory filing.

($1 = €0.75)

By: Tom Brown
+44 208 652 3214

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