Givaudan completes the acquisition of major cosmetic ingredients portfolio from Amyris
Strengthening our leadership in biotechnology for cosmetic ingredients for a sustainable future
Givaudan, the global leader in Fragrance & Beauty, today announces that it has completed the acquisition of a major cosmetic ingredients portfolio from Amyris, Inc (Nasdaq: AMRS). Givaudan had announced that it had reached an agreement for this transaction in February 2023.
Amyris is a leading biotechnology company accelerating the world’s transition to sustainable consumption through its Lab-to-Market™ technology platform in beauty, health & wellness and flavours & fragrances markets. Amyris and Givaudan have a strong partnership to leverage the value of Amyris’ technology platform for designing, scaling and manufacturing the best performing bio-fermented ingredients.
“It is an important step for Givaudan as we will reinforce our leadership in biotech, while continuing to offer efficient and sustainable solutions for the beauty industry, thanks to our long-standing partnership with Amyris. The complementary nature of both capabilities will further enhance our ability to support our customers with breakthrough innovations.”
Maurizio Volpi, President Givaudan Fragrance & Beauty
“We are very pleased with the expansion of our long term partnership with Givaudan. Our unique biomanufactured molecules enable significant expansion to the Givaudan Active Beauty business leadership in the supply of clean, sustainable ingredients. We expect the reach and scale of Givaudan to accelerate our sales growth and to support the beauty industry’s transition to sustainably produced chemistry,” said John Melo, Amyris President and Chief Executive Officer.
Markus Rassmann, Head of Active Beauty, said: “We are delighted to enrich our market-leading biotech cosmetic ingredients portfolio with the Amyris products. With this acquisition we enhance our unique biotech palette, leading the market towards a more sustainable future.”
While terms of the deal have not been disclosed, Amyris’ cosmetic business would have represented approximately USD 30 million of incremental sales to Givaudan’s results in 2022 on a proforma basis. Givaudan funded the transaction from existing resources.
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as Amyris' expectations regarding the closing of the transaction with Givaudan and the financial benefits and timing thereof. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris' liquidity and ability to fund operating and capital expenses, risks related to its financing activities, risks related to potential delays or failures in completing and integrating planned acquisitions, risks related to potential delays or failures in development, regulatory approval, launch, production and commercialisation of products, risks related to global inflation and policy measures undertaken to address inflation, the COVID-19 pandemic and any other geopolitical events, including Russia's invasion of Ukraine, resulting in global economic, financial and supply chain disruptions that may negatively impact Amyris' business operations and financial results or cause market volatility, risks related to Amyris' reliance on third parties particularly in the supply chain, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.