Cargill acquires Floratech to expand Into Natural Beauty Business
In response to growing consumer preferences for nature-derived and sustainably sourced ingredients, Global food major Cargill has entered into an agreement to acquire Arizona based Floratech, a leading global provider of innovative natural emollients and derivatives for beauty and personal care applications.
“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 speciality beauty ingredients is particularly impressive.” Colleen May, president of Cargill Bioindustrial, which includes the Beauty business added, “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.”
Floratech brings 45 years of market-leading expertise in natural emollients and jojoba derivatives. “We are thrilled to join the Cargill team,” said Steve Brown, president of Floratech. “Floratech has a long history of developing plant-based sustainable ingredients at levels of quality and functionality superior to the synthetic products they replace. Cargill’s long-established position as an agricultural powerhouse will not only sustain but accelerate that success.”
Cargill has been producing ingredients for the beauty industry for more than 40 years, focused on delivering a broad portfolio of nature-derived ingredients. The addition of Floratech and its capabilities in speciality emollients and derivatives will fit squarely within its portfolio.
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