Specialty chemical business Hallstar is expanding its beauty ingredients opportunities with the acquisition of Oléos.
Oléos, headquartered in Montpellier, France, uses a proprietary oleo eco-extraction technology process to make natural compounds for cosmetics. The business’ ingredients can be used for antiaging, dark spot treatments and skin whitening.
Chicago-based Hallstar makes ingredients that are used in skin care, sun care, color cosmetics, toiletries and hair care. Terms of the acquisition were not disclosed.
Oléos’ ingredients will help Hallstar meet increasing consumer demand for effective, natural products, the company said. The acquisition also gives Hallstar expertise in lipids, vegetable oils and antioxidants on top of its base of ester chemistry and naturally-sourced ingredients.
“What’s special about Oléos, and really one of the reasons we bought them, is when we go to our customers, [consumer packaged goods] customers, we’re going to allow them to build really unique claims,” said Dennis Zlotnik, market development manager at Hallster.
“They have an eco extraction system, and they have this extraction process in their lab that’s essentially one of one in the world,” Zlotnik said. Using nitrogen extraction, a “100 percent green process, they are able to extract these different compounds from flowers, plants and minerals,” he said. The deal also gives Hallstar key operations in France, Zlotnik said.
“Oléos’ unique capabilities and technology will enhance Hallstar’s technology platform with patented, clinically proven natural active ingredients for beauty and personal care,” said John Paro, chairman, president and chief executive officer of Hallstar. “As we grow our global footprint, the South of France puts us at the heart of cosmetic innovation. Further, with Oléos, we add a strong team and culture that fits the Hallstar brand.”
“The South of France, with its access to plentiful natural resources and proximity to major customers has been an ideal place to grow our business over the last seven years,” said Anne Rossignol-Castera, president of Oléos. “By joining the Hallstar team, we ensure that access to these natural resources for cosmetic brands can be provided, as bioactive ingredients, on a global scale. Additionally, Hallstar’s formulated solutions capabilities provide the perfect vehicle to globalize Oléos’ ingredients.”
Hallstar’s acquisition follows International Flavors & Fragrances Inc.’s IFF-Lucas Meyer Cosmetics’ investment in a Canadian research and development laboratory. That lab, Bio ForeXtra, specializes in developing active cosmetic and botanical extracts. IFF-LMC planned for the deal to provide it with more access to raw materials for its cosmetics actives business.