In response to growing consumer preferences for nature-derived and sustainably sourced ingredients, Cargill has entered into an agreement to acquire Floratech, a provider of natural emollients and derivatives for beauty and personal care applications.
“This acquisition will mark an important milestone in Cargill’s effort to expand its Beauty business and will strengthen both companies’ shared vision to unleash beauty sustainably,” said Colleen May, president of Cargill Bioindustrial, which includes the Beauty business. “This partnership will accelerate our combined growth, maximize value for customers by building industry-leading capabilities focused on nature-derived solutions, and help those customers shift their portfolio from synthetic chemicals to more sustainable ingredients.”
Based in Chandler, Arizona, where they operate a state-of-the-art manufacturing facility, quality and R&D laboratory, distribution warehouse and consumer testing laboratory, Floratech brings 45 years of expertise in natural emollients and jojoba derivatives.
“This is an exciting step for our Beauty business,” said Bente Korsgaard Andersen, managing director for Cargill’s Beauty business. “Floratech is a key player in the beauty industry, and their expertise in specialty beauty ingredients is particularly impressive. Our combined capabilities will be essential to delivering new and innovative beauty solutions to customers that want nature-derived, sustainable ingredients.”
The financial details of the acquisition, which is submitted to regulatory approval and closing conditions, have not been disclosed.
