In order to accelerate its growth in the field of cosmetic ingredients, Symrise AG takes 25% stake in Kobo Products, an American supplier of pigments and powders. The two companies also agreed on the future sale of Kobo shares and on governance. Financial details of the investments were not disclosed.
Based in South Plainfield, New Jersey, Kobo has a very wide color palette of surface treated pigments and dispersions to meet market demand for makeup products for a wide range of skin tones. It is a market leader in mineral sunscreen technologies to create formulations with broad spectrum protection, microspheres for enhanced textures and naturally derived materials. The company employs approximately 170 people worldwide and has subsidiaries in France, Brazil and the UK, as well as a majority-owned joint venture in Japan, with application labs and production facilities in four countries. They are represented worldwide by independent agents in more than thirty countries.
Mineral filters and makeup
Symrise sees this investment as a strategic step to expand its business to inorganic UV filters and decorative cosmetics.
“With this investment, we are accelerating our strategic expansion plan in decorative cosmetics. It allows us to stay at the forefront of consumer trends by combining color and skin care cosmeticsSaid Dr Jörn Andreas, President of the Cosmetic Ingredients Division at Symrise AG. “We will combine Kobo’s wide 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 cosmetic ingredients. Our customers will benefit from an unrivaled line of UV filter products and a full range of formulations and integrated solutions.“
The two groups will cooperate in the distribution of UV filters and Kobo will have access to Symrise’s global sales infrastructure.
“Joining forces with Symrise gives us an opportunity to further develop our color and sun business. Symrise’s resources and expertise in organic UV filters combined with ours in inorganic UV filters will create an organization capable of analyzing and developing new ingredients and formulations that provide broad-spectrum protection, are safer for the world. environment and minimize their impact on carbon. emissions. Together, we will do the research necessary to create technical coloring and sunscreen products that meet the needs of customers, regulators and other stakeholders around the world,Kobo President David Schlossman added.