PARIS — In a bid to step up its growth in cosmetics ingredients, Swiss fragrance and flavors supplier Symrise AG is taking a 25 percent stake in Kobo Products Inc., a pigment and powder specialist for the beauty industry.
Financial terms of the deal were not disclosed, but Symrise said it has agreed with Kobo on the future disposition of shares in the group’s capital and its governance.
Symrise will also become a distribution partner with Kobo for inorganic UV filters.
“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,” said Jörn Andreas, president of the Cosmetics Ingredients Division at Symrise, in a statement. “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 cosmetics ingredients.”
Kobo, based in South Plainfield, N.J., was incorporated in 1987. The group has a wide-ranging color palette of surface-treated pigments and dispersions destined for use in makeup targeting diverse skin tones. Kobo is a market leader in the mineral sunscreen technology space, offering high protection formulas with broad spectrum protection, microspheres and naturally derived materials, according to Symrise.
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Symrise has marketed cosmetics ingredients for more than 100 years.
“Joining forces with Symrise offers us an opportunity to further develop our color and sun business,” said David Schlossman, president of Kobo. “Symrise’s resources and expertise in organic UV filters combined with ours in inorganic UV filters will create an organization with a 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 need of customers, regulators and other stakeholders around the world.”
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