Lubrizol to acquire cosmetic ingredients firm Lipotec

Specialty chemicals manufacturer Lubrizol has signed an agreement to acquire Lipotec, a Barcelona-based personal care ingredients company, for an undisclosed amount.

The firm expects the acquisition to complement its global personal care ingredients business, enabling it to offer technology solutions to marketers of formulated skin care products.

The acquisition includes Lipotec’s cosmetics active ingredients business and its subsidiaries Diverdrugs and Lipofoods.

Lubrizol personal and home care division vice president and general manager Rick Tolin said the acquisition comes after the firm’s earlier acquisitions of Nalco’s conditioning polymer business and Active Organics botanical extracts and natural performance ingredients which took place in 2011.

"Adding Lipotec further illustrates our commitment to providing a broad product portfolio, new technology and applications expertise that enhance Lubrizol’s ability to make customers successful through expanded access to innovative ingredients," said Tolin.

Following the completion of the transaction, Lipotec will become a part of Lubrizol Advanced Materials, with Lipotec, Diverdrugs and Lipofoods retaining their respective names.

The transaction is expected to close within two months.

Lipotec, a part of Lipotec Group, develops personal care ingredients based on three core technologies: peptide-based active cosmetic ingredients, delivery systems and biotechnology products.

Diverdrugs is a research and development division of Lipotec, specialising in new active compounds in the field of cosmetics and dermatology, while Lipofoods develops and manufactures functional health ingredients for the food and beverage industry.