Lubrizol Corporation acquires Catalan biotechnology firm Lipotec
Lipotec, founded in 1987 by José María García and Antonio Parente, is one of the top global suppliers of peptides for cosmetics.
By Biocat
North American chemical company Lubrizol announced this week their agreement to acquire Lipotec, SA, based in Gavà (Barcelona). The Catalan biotech firm is devoted to high-performance applications for skin care, including hydration and protection of sensitive skin, anti-ageing and anti-wrinkle care. Their most well recognized brands are Argireline®, Snap 8, Antarcticine® y Eyeseryl®.
This purchase includes the business of Lipotec and its subsidiaries, Diverdrugs and Lipofoods. Diverdrugs is the Lipotec research and development division, specializing in new active components for the fields of cosmetics and dermatology. Lipofoods develops and manufactures functional ingredients for the food and drinks industry. After the transaction has been finalized, Lipotec, Diverdrugs and Lipofoods will be part of Lubrizol Advanced Materials, and will maintain their respective names. The transaction is expected to close in 60 days.
Lubrizol Corporation has 7,000 employees around the world and turnover of $6.1 thousand millions in 2011. The company produces everything from fuel additives (gasoline and diesel) to ingredients and additives for personal care and pharmaceutical products, using technology to improve performance and reduce environmental impact. Their main headquarters is in Wickliffe, Ohio.
The current owners of the Lipotec Group will continue on in their activities related to pharmaceutical and cosmetic end products through BCN Peptides, GP Pharm and Prima-Derm. "This agreements opens up new doors for us, not only in terms of business growth for the company but also in the potential to bring new professional opportunities to our workers. The two companies have complementary portfolios, which will allow us to make the most of our combined technology and provide innovative solutions for our international clients,” explained José María García Anton and Antonio Parente, founders of Lipotec.
More information is available on the Lubrizol and Lipotec websites.