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Sumitomo Acquires a Minority Interest in Presperse
Posted: November 5, 2007
Sumitomo Corporation of America (SCOA) has acquired a 20% minority interest in Presperse LLC. The investment reportedly will strengthen Presperse's R&D capability as formulators and innovators of functional ingredients in the areas of sun care, makeup, skin care and hair care applications.
This partnership will also allow the companies to capitalize on opportunities in the expanding value chain of the cosmetic and personal care industry, as customers continue to increase their outsourcing of finished product formulations. While Presperse gains a larger supply network, Sumitomo can now pursue its new business model with value chain analysis in the cosmetic and personal care industry.