Lubrizol Announces Acquisition of Three Lipotec Businesses

Jun 20, 2012 | Contact Author | By: Katie Schaefer
Contact the Author
Save
This item has been saved to your library.
View My Library
(click to close)
Save to My Library
Title: Lubrizol Announces Acquisition of Three Lipotec Businesses
  • Article

The Lubrizol Corporation has signed an agreement to purchase the cosmetic actives, Diverdrugs and Lipofoods businesses of Lipotec SA.

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.