Acquisitions

Croda International Plc, the name behind high performance ingredients and technologies that are relied on by industries and consumers everywhere, today announced that it has acquired the technology portfolio of Inventiva Ltda., based in Porto Alegre, Brazil. This transaction, completed by Croda Brazil, adds Inventiva’s encapsulation and delivery system technologies to the company’s already wide range of ingredients for the personal care industry.

The acquisition brings with it a suite of market proven technologies, strong customer relationships in Brazil and South America, good scientific data and leading knowledge. It will form the basis of a research and technology platform for the encapsulation and delivery of Croda’s products, providing a new dimension in the company’s innovation programme for Personal Care, as well as anticipated opportunities in Croda’s other market sectors.

“The capabilities of Inventiva and experience of its team are exciting additions for Croda,” commented Marco Carmini, Managing Director, Croda Latin America. “They will allow us, in the short term, to expand our product offering within personal care and enable us to develop, in the future, new and exciting ingredients to meet the needs of consumers in this and other market sectors.”

Inventiva was founded by two entrepreneurs, Dr. Renata Raffin and Candice Felippi, MSc, in 2008 with the aim of developing and manufacturing encapsulated systems for supply mainly to the Personal Care industry. Raffin said: “Everyone at Inventiva is very happy to be joining Croda through this acquisition. It will enable our technology and product portfolio to reach many more potential partners and new investment means that the team can focus on developing new products for new application areas.”  Felippi added: “The opportunity to increase the global use of our delivery system technologies is very promising, and we are excited by the ability to greatly improve the marketing and sales of our products through Croda’s expertise and worldwide network.”

Croda International Plc, a speciality chemical manufacturer behind some of the biggest, most successful brands in the world today announces that it has agreed to acquire Incotec Group BV, an independent innovative seed enhancement business headquartered in The Netherlands, for a total consideration, inclusive of debt, of €155 million (£109m). The acquisition is expected to complete on 4 December 2015.

Operating in one of the fastest growing segments within the crop care market, Incotec has developed and supplied a wide range of proprietary and sustainable technologies for both vegetable seeds and field crops since 1968. Their products and services help to enhance and improve seed performance, allowing greater efficacy and functionality to be delivered directly by the seed to increase farming yields to feed the world’s growing population.  

August 2014

Global speciality chemical manufacturer Croda, announces the acquisition of JD Horizons Limited, a UK based business specialising in ‘Solutions for Flow Assurance’ technology.

April 2014

Croda’s Coatings & Polymers business and Technology Investment Group are pleased to announce the acquisition of AM Coatings (AMC), completed on 3rd April 2014. AMC have researched and developed novel non-leaching antimicrobial technology for coating and adhesive applications. Croda plans to commercialise and exploit this technology firstly to C&P customers and potentially, in the future, into other business sectors.

Antimicrobial coatings are estimated to be worth $1.5bn and are growing at 9% CAGR globally, with the majority of business in USA, Europe and North Asia. They are one of the key ‘functional coating’ trends being observed in the marketplace and the AMC technology is expected to allow Croda to develop a leading position in this field.

29 July 2013

Croda International Plc (“Croda” or “the Group”) announces that it has received Chinese regulatory approval to acquire a 65% equity interest in Sichuan Sipo Chemical Co. Ltd (“Sipo”), a non-listed natural speciality chemicals manufacturer based in Mianyang City, Sichuan Province, China. Completion of the transaction is subject to customary closing conditions which are expected to be fulfilled within the next few weeks.

The majority stake will be acquired from Sichuan Forever Holding Co. Ltd and certain individual shareholders for a total consideration of £38.2m*, including £8.0m* of debt, subject to working capital, net cash and fixed asset adjustments. Sichuan Forever Holding Co. Ltd will continue as the minority shareholder retaining a 35% equity interest in Sipo.

Sipo was established in 1993 and has approximately 300 employees. Sipo makes speciality derivatives from natural raw materials and its products include primary amides, novel fatty acids and speciality esters. In 2012 the business reported a turnover of £28.0m and EBITDA of £3.1m. A state of the art, well invested production facility, custom built in 2011, will provide additional capacity from the outset and increase Croda’s proximity to customers in the region, strengthening its existing operations across China and the Group’s overall position in Asia. Sipo will also consolidate Croda’s global leadership in fatty acid amides and add new technology that will enable the Group to expand its portfolio across a number of its core markets.

Apart from a small number of by-products, all of Sipo’s products will be sold through the Croda global sales network. Croda’s initial focus is to grow sales from its Performance Technologies business to the Polymer Additives and Lubricants sectors, with further opportunities in new markets expected to follow in due course.
 Steve Foots, Chief Executive of Croda, commented:

“This is a significant step forward in our strategy to increase Croda’s presence in fast growing and emerging markets. Sipo’s manufacturing capabilities together with our marketing expertise and sales force infrastructure are an exciting combination. We will have a stronger platform in niche markets and renewable technologies which will allow us to develop our customer base and drive sales growth in Asia. Our broader footprint in China will also enable us to be more responsive to customer needs in this important region.”

For further information please contact:

 Steve Foots, Group Chief Executive Tel: 01405 860 551

 Sean Christie, Group Finance Director

 Charles Armitstead / Rosie Oddy, Pendomer Communications Tel: 020 3603 5224

 *purchase consideration of RMB361.6m and debt of RMB75.6m at an estimated exchange rate of RMB9.45/£.-

24 May 2013

Naturally derived polyamides expand Croda’s broad portfolio of effects Croda International Plc announces today that it has completed the acquisition of the Specialty Products business of Arizona Chemical based in Jacksonville, Florida in the USA.

December 2012

I am pleased to announce that Croda has acquired the assets of Innovachem, LLC of Cutchogue, NY for a total consideration of $2.8m. 

The acquisition was finalised on 20 December, 2012.  During the first half of 2013, Croda will transition the products offered by Innovachem, and formerly sold through third party distribution, into its portfolio.  As there are no manufacturing assets associated with the sale, all products will be manufactured at our existing sites in the US. For further information please contact:

Keith Layden, Chief Technology Officer

Tel: 01405 860 551

Sean Christie, Group Finance Director

Charles Armitstead / Rosie Oddy, Pendomer Communications           

Tel: 020 3603 5224 

July 2012

We have acquired Istituto Di Ricerche Biotechnologiche (IRB), the global leader in plant cell culture biotechnology, for a total consideration of €7.5m. Formed in 1999 in Vicenza, Italy, IRB entered the market in 2009 after 10 years of pioneering research and had a turnover of €1.3m in 2011. It has 19 employees, including 9 in Research & Development.