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According to Lubrizol, the acquisition complements its global personal care ingredients business, strengthening its offering of high-performance technology solutions to marketers of formulated skin care products.The current owners of Lipotec Group will continue their activities in the pharmaceutical and cosmetic finished goods segments through BCN Peptides, GP Pharm and Prima-Derm, which are not part of this transaction.
Lipotec noted that the agreement not only allows it to grow its business but also provides potential career opportunities to Lipotec employees. The two companies' complementary portfolios allow them to leverage their combined technologies.
Once the transaction closes, Lipotec will become a part of Lubrizol Advanced Materials, with Lipotec, Diverdrugs and Lipofoods retaining their respective names. Financial terms of the agreement were not disclosed. The transaction is expected to close within 60 days, subject to normal closing conditions.