Solabia has acquired a majority stake in Applechem, which was founded in 2003 by Samuel Lin within the Enterprise Development Center of the New Jersey Institute of Technology. The deal expands Solabia's portfolio of ingredients and gives it a greater U.S. presence, while generating opportunities in Europe and Asia.
Solabia's recent acquisitions include deals for BioActor and Laborclin.
Applechem's portfolio offers natural and eco-friendly ingredient technologies like Phytocare, a low molecular weight extract that provides hydration, film-forming and anti-oxidation properties to beauty formulations. In this way the material functions as a hyaluronic acid alternative.
Its polysaccharide structure delivers longlasting, deep-penetrating hydration and anti-oxidation benefits, promoting a youthful and radiant complexion. The technology also features antipollution properties that safeguard the skin from the damaging effects of environmental stressors; in addition, it features strong tolerance to varying temperature, pH and salt levels.
The complex can be used in topical and ingestible products, per the supplier.
Lin retains a minority share in Applechem and remains CEO of the company.
Jean-Baptiste Dellon, CEO of Solabia, said, "We are very excited to welcome Applechem’s very talented and respected teams to Solabia. This operation will allow both companies to benefit from their combined knowhow, and to offer a broader portfolio of high-performance ingredients to an expanded customer base. It also fully supports our international development strategy, and showcases our ability to attract successful companies into Solabia Group as we look to grow our business in markets with strong potential.”
Lin noted, “By combining Applechem’s specialty ingredient solutions with Solabia’s excellent actives portfolio, this new partnership will enable us to better serve our customers globally. Joining with the Solabia Group will allow our collective expertise in specialty functional ingredient technologies and high-performance bio-active platforms to accelerate the development of new innovative cosmetic ingredients. We look forward to building on the reputation we have for delivering excellence, and innovate alongside a company that shares our passion, values and ambition.”