NATURAL chemicals company Croda International has bought a leading US oil gelling polymer business to strengthen its position in this field.
The Snaith-based company has completed the acquisition of the specialty products business of Arizona Chemical, which is based in Jacksonville, Florida.
The group, which sells chemicals to international beauty firms such as L’Oreal and Estee Lauder, said the acquisition will add a portfolio of class leading oil gelling polymers and further expands its footprint in the polymers arena,
It will also strengthen Croda’s leading position in speciality chemicals derived from renewable resources.
The US company’s technologies and products are naturally derived polyamides with high bio-renewable content and are covered by a range of patents.
Keith Layden, Croda’s chief technology officer, said: “This acquisition represents further progress in our strategy to acquire complementary new technologies. The varied functionality of these specialised polyamides will be a valuable addition to our offerings across both the consumer care and performance technologies market sectors.
“In addition, there are a number of opportunities to further differentiate the technology and create value for ourselves and our customers.”
No manufacturing assets will be acquired as part of this transaction and Croda will immediately relocate the products to its Mevisa manufacturing site in Spain.
It plans to re-launch the products with new trade names and marketing identities.