Japanese trading company Sumitomu Group has announced the acquisition of a German cosmetics ingredient distributor Kyowa Hakko Europe GmbH.

 Under the agreement, the Sumitomo Group will market Kyowa Hakko cosmetic ingredients, vitamins and moisturising agents for hair and skin care products to consumers across Europe and the Middle East.

The transaction will be conducted through Summit Pharmaceuticals Europe Limited, a subsidiary of Sumitomo Corporation, which markets pharmaceutical intermediates and raw materials in Europe.

Kenichi Nakamura, General Manager of Medical Science Department at Sumitomo Corporation, commented, “I am delighted to sign an agreement to acquire a cosmetic ingredient distribution business from Kyowa Hakko Europe GmbH.”

“I am confident that we can grow the business globally with Presperse and Cosmotec by gaining the excellent customer base through this deal and by supplying unique ingredients to the market in the future. I am hoping to grow the business together with the talented employees of Kyowa Hakko Europe who will join us.”

The Sumitomo Group  first started its cosmetic ingredients business by exporting ingredients produced in Japan. In 2010, the Group developed its leverage in the cosmetic and personal care market by acquiring 100 percent ownership of US cosmetic ingredient distribution company, Presperse Corporation.

In 2013, the company expanded further with the acquisition of Cosmotec International Especialidades Cosmeticas Ltda, a leading major supplier of cosmetic ingredients in Brazil.