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Cognis has agreed to sell its botanical extracts business to Burgundy Botanical Extracts Iberia, S.A.. The agreement, initially signed on Feb. 20, 2009, has been formally completed.
Cognis undertook the sale of the business—which focuses on the production of botanical extracts for pharmaceuticals, dietary supplements and cosmetics—to streamline its portfolio in businesses that offer critical mass and bring competitive synergies in its key markets, according to a press release. Botanicals extracts generated net sales of approximately €9 million in 2007.
Cognis will continue production and distribution of certain botanical products for the cosmetics industry and will retain ownership of its Plantalin range, comprising of selective plant extracts designed for functional food and beverage applications. Burgundy Botanical Extracts will distribute the Plantalin range to the pharmaceuticals and dietary supplements industry in the EU.