The acquisition will support Clariant’s strategy to grow its presence in emerging markets and strengthen its product portfolio in personal care segment
Swiss specialty chemicals major Clariant on September 29, 2015 entered into an agreement to acquire a part of Vivimed Labs Limited’s personal care portfolio. The acquisition will enable Clariant India Ltd (a wholly-owned subsidiary of Clariant Group) to strengthen its personal care portfolio within the industrial & consumer specialties (ICS) business, by offering a wider product portfolio within the sun, skin, hair and oral care range as well as anti-microbial preservatives.
“The personal care industry in India offers us immense potential supported by the growing middle-class consumer population and the rising disposable income. This strategic decision will be a significant step towards strengthening our product portfolio and thereby reinforcing Clariant’s long term commitment in the segment. We believe in the growth potential that India offers and are focussed on expanding our footprint in the region,” commented Dr Deepak Parikh, region president – India, Middle East and Africa, Clariant.
Stephen Lynen, head ICS, Asia Pacific, Clariant, said, “This marks an important step of our global strategy to enhance our offering in personal care and to boost our presence in Asia. The transaction will strengthen our portfolio with actives to formulate broader solutions such as sun protection in a strong growing market – India.”
This acquisition will enable Clariant to expand its footprint and provide its customers with end-to-end solutions in sync with the current industry trends. “The strong growth perspective of the personal care industry results in a bright future for the ICS business in India,” added R Kumaresan, head of Clariant’s BU ICS, India.
Santosh Varalwar, MD & CEO, Vivimed Labs Limited, said, “I am pleased to announce an important strategic development at Vivimed. This transaction will help us significantly improve our financial flexibility for future growth. We are confident that this transaction, once completed, will position Vivimed optimally to move to the next level of growth, across its specialty chemicals and pharmaceuticals businesses.”
Clariant India operates in four business areas – care chemicals, catalysis & energy, natural resources, and plastics & coatings, including businesses like pigments (coatings, printing and plastics and special applications), additives, industrial & consumer specialties, mining services and masterbatches. In 2014, Clariant invested in a regional innovation centre in Mumbai, with an aim to co-create tailor-made solutions with customers for the industry.
Source: Business Standard
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