THE WHAT? Amyris has announced that it has agreed to acquire Beauty Labs International. Terms of the deal have not been disclosed.
THE DETAILS Amyris’ Biossance, Pipette, Rose Inc, JVN, Terasana and Costa Brazil brands will use the Beauty Lab International’s cutting edge AI technology to create compelling, personalized, connected consumer experiences and grow e-commerce sales.
“Mark has built an incredible team and brings a distinctive mindset and capability to accelerate our revenue growth through deeper connections with our consumers,” commented John Melo, President and CEO of Amyris. “We are building and growing leading clean beauty brands and are committed to an omnichannel strategy of which the digital experience is critical. We partner with some of the world’s leading retailers, and we want the consumer to enjoy their beauty experience where they want it and need it. With a cash balance of US$250 million, the strongest ingredients development pipeline in our history, significant acceleration of our revenue growth, and continued progress with our remaining strategic transaction, we continue a track record of industry-leading execution.”
THE WHY? The AI tech firm provides ‘breakthrough connected consumer experiences’ to the beauty and wellness community, and will help Amyris accelerate its growth and market leadership in clean beauty through digital innovation.