THE WHAT? Symrise has announced that it has bought a 25 percent stake in Kobo Products, a powder dispersion specialist for the beauty industry. Terms of the deal were not disclosed.
THE DETAILS Under the terms of the deal, Symrise will become a distribution partner for the US-headquartered powder and pigment specialist’s inorganic UV filters. The duo have also agreed on the future disposition of Kobo’s capital stock and governance.
“Joining forces with Symrise offers us an opportunity to further develop our color and sun businesses,” said David Schlossman, Kobo President. “Both companies share similar values regarding employee health and their well-being. Symrise’s resources and expertise in organic UV filters combined with ours in inorganic UV filters will create an organization with the capacity to analyze and develop novel ingredients and formulations that provide broad spectrum protection, are safer for the environment, and that minimize in their impact on carbon emissions. Together, we will do the research necessary to create technical color and sun care products that are responsive to the needs of customers, regulators, and other stakeholders around the world.”
THE WHY? Dr. Jörn Andreas, President of Cosmetic Ingredients Division at Symrise AG, explains, “With this investment, we fast-track our strategic plan to expand into decorative cosmetics. It enables us to stay at the forefront of consumer trends by bridging color and skin care cosmetics. We will combine Kobo’s broad range of market-leading product lines in surface treated pigments, sun care and color dispersions with our decades of experience in manufacturing and marketing high-quality cosmetic ingredients. Our customers will benefit from an unmatched range of UV filter products and a full spectrum of formulations and integrated solutions.”