PARIS — Chemical company Clariant has agreed to acquire natural cosmetics ingredient maker CRM International for an undisclosed sum.
“The acquisition strengthens Clariant’s Industrial and Consumer Specialties Business Unit, which aims to accelerate sustainable, high-performance solutions,” said the Muttenz, Switzerland-based concern in a statement.
CRM International is a privately held manufacturer of naturally derived olive oil-based ingredients in Puget-sur-Argens, France.
The transaction is expected to close by the end of March.
As reported, Clariant has also been spinning off some of its businesses. In late December, the firm announced it had inked a deal to divest its textile chemicals, paper specialties and emulsions units to U.S. private equity firm SK Capital for about 502 million Swiss francs, or $546.7 million at current exchange.