Acquisitions

24 November 2020: Croda International Plc (‘Croda’) today confirms that it has successfully completed the acquisition of Fragrance Spanish Topco, S.L., trading as Iberchem, a leading global fragrances and flavours company. This follows the announcement on 18 November 2020 that Croda had reached an agreement to acquire Iberchem.  

18 November 2020: Croda International Plc (“Croda”, “the Company” and together with its subsidiaries, “the Group”), the speciality chemical company that uses smart science to create high performance ingredients and technologies that improve lives, today announces that it has agreed to acquire the entire issued share capital of Fragrance Spanish Topco, S.L., trading as Iberchem (“the acquisition”), a leading global fragrances and flavours (“F&F”) company, for a total consideration of €820m (c.£736m) on a debt-free, cash-free basis. Iberchem has been majority owned by Eurazeo since 2017. The consideration will be funded via a combination of the Group’s existing debt facilities and the proceeds of an equity placing, representing c.8% of Croda’s issued share capital.

Iberchem was founded in 1985 and is headquartered in Murcia, Spain. As at August 2020, it had approximately 850 employees, 14 manufacturing facilities, 10 R&D centres and a commercial presence in 120 countries. Approximately 80% of its sales are fragrances for Personal Care and Home Care products, areas where it has a similar customer profile to Croda. A further c.20% of sales are generated by its Scentium flavours business, principally for food, pharmaceutical and oral care applications.

For further information on the acquisition click here find out more about Iberchem here

13 August 2020: Further to the announcement on the 6 July 2020,  Croda International Plc (‘Croda’) today confirms that, following approval from the US regulatory authorities, it has now successfully completed the acquisition of Avanti Polar Lipids, Inc., a leader in drug delivery systems for next generation pharmaceuticals. 

6 July 2020: Croda International Plc (‘Croda’) today announces that it has agreed to acquire Avanti Polar Lipids, Inc. (‘Avanti’), a knowledge-intensive leader in lipid-based drug delivery technologies for next generation pharmaceuticals. Croda has acquired Avanti for an initial consideration of $185m on a debt and cash-free basis, with an additional earnout of up to $75m based on near-term commercial opportunities using Avanti’s lipid-based solutions.

Avanti, founded in 1967 by Dr. Walter and Rowena Shaw, is a technology-rich business that operates globally from one site in Alabama in the United States of America. Of its 150 employees, more than 100 are in scientific roles, and 29 have PhD qualifications. The know-how and expertise of its people drives the ongoing development of an extensive IP portfolio with the launch of 125 innovative products typically each year.

Avanti creates and makes high-purity polar lipids that are increasingly being used as delivery systems for complex therapeutic drugs and in next-generation mRNA vaccines. These lipid technologies ensure the targeted, controlled and extended release of active pharmaceutical ingredients (APIs), increasing their efficacy and safety. The business provides its world-class products and services to the majority of the leading pharmaceutical companies, as well as to thousands of biotechnology businesses and academic research organisations.

Avanti’s know-how and technology are highly complementary to Croda’s own capabilities in drug delivery systems, vaccine adjuvants and immunotherapy. The acquisition will more than double Croda’s research and development (R&D) capability in drug delivery. Avanti will also provide a new channel to market Croda’s ingredients for early-stage pharmaceutical research in both commercial and academic organisations worldwide. Equally, Avanti will be able to combine its leading position and flexibility in pharmaceutical R&D applications with Croda’s access to global markets, manufacturing expertise and capacity.  

The acquisition is subject to customary US regulatory approvals. On completion, Avanti will continue to operate under its existing brand, led by the current management team. It will become a part of Croda’s Life Sciences sector and sit within the fast-growing Health Care business. The acquisition is being financed by a three-year term loan, maintaining Croda’s strong liquidity.

Steve Foots, Chief Executive Officer of Croda, said:
“We have long admired the Avanti team for their deep scientific know-how and are already working together on high-potential commercial opportunities. With their exciting drug delivery technologies, Avanti is a market leader in a high growth niche of the health care market, serving over 3,000 customers globally. Bringing Avanti’s best-in-class expertise into Croda also significantly enhances our presence across the pharma product lifecycle, including early stage R&D, clinical trials, analysis and formulation. I am confident that Avanti will prove transformative to the capabilities and performance of our Life Sciences sector.”  

Walter Shaw, Chief Executive Officer of Avanti, said:
“Together with Croda, we are delighted to have found the right home for Avanti, which has been a lifetime’s work for my wife, myself and many of the team. This transaction comes at an exciting moment in the development and proven need for our proprietary lipid systems, and Croda’s skills and Avanti’s capabilities are a powerful match. I am convinced that Croda, with its focus on innovation, is the best place for Avanti to realise its global potential.”

Croda International Plc, the name behind high performance ingredients and technologies that are relied on by industries and consumers everywhere, today announces the acquisition of Rewitec® GmbH, a specialist in improving the efficiency and longevity of wind turbines and moving machinery through their patented additives.

Founded in 2003 in Lahnau, Germany, Rewitec’s innovations offer sustainability benefits by extending the lifetime and improving the performance of gearboxes, bearings and engines within wind turbine, automotive and marine industries worldwide. Using nano- and micro-particle based additives, Rewitec’s high-quality ingredients form a reconditioning layer that has been proven to increase the durability of machinery by lowering friction and reducing wear.

The Rewitec team will form part of the Energy Technologies sector of Croda’s Performance Technologies business. With all employees being welcomed into the Croda Group, the combined technical expertise within these businesses will deliver an enhanced portfolio of products to customers.

Through Croda’s well established and dedicated marketing and sales network, Rewitec will also have the support they need to grow sales, and expand the business, into applications focusing on lower carbon emissions and sustainable power through improved equipment efficiency and durability.

Maarten Heybroek, President of Croda Performance Technologies, said: “We are delighted to bring the products and expertise of Rewitec into the business. With their speciality ingredients offering high performance and sustainable benefits in use, they are a natural fit.

“Together, we are extending our leadership in friction and wear management. We see many new opportunities for their technologies within existing and new markets, such as marine lubrication where the performance of their ingredients has already been proven.” 

Stefan Bill, Chief Executive Officer of Rewitec, said: “We are all looking forward to joining the Croda family, where their well-established sales network can support our growth ambitions. Their focus on sustainability and entrepreneurial spirit perfectly aligns with our business.”

 

25 August 2020. Croda International Plc has entered into a new Smart Partnership with Entekno Materials, an innovative young Turkish company focused on the development of a new generation of particle technology that will deliver superior protection benefits to the sun care and personal care markets.  Through its £1.5m investment in Entekno Materials, Croda has become a minority shareholder as well as the company’s exclusive route to market for the Personal Care industry and an R&D partner focused on driving innovation and delivering unique, natural and safe inorganic sunscreens to the market.

28 December 2018: Further to the announcement on 17 December 2018, Croda has now completed the acquisition of Brenntag Biosector A/S ('Biosector') from Brenntag Nordic A/S on 28 December 2018. Biosector is a specialist in the manufacture and supply of adjuvants serving both the human and veterinary vaccine markets.

17 December 2018: Croda International Plc (‘Croda’) today announces that a definitive agreement has been signed with Brenntag Nordic A/S to acquire Brenntag Biosector A/S (‘Biosector’).  Biosector is a specialist in the manufacture and supply of adjuvants serving the human and veterinary vaccine market. The total consideration is €72 million in cash and the transaction is expected to close by the end of 2018.

Biosector was founded in 1939 and operates from a GMP-certified adjuvants manufacturing facility in Frederikssund, Denmark. Its product portfolio comprises innovative aluminium and saponin-based adjuvants. Aluminium-based adjuvants are extensively used in human and veterinary vaccines to increase their effectiveness. They also provide a platform to introduce new technically advanced saponin-based adjuvants.

Vaccine adjuvants are a natural extension to Croda’s market leading, high-purity excipient delivery systems in its Health Care business. These adjuvants represent a niche, high-growth market, driven by increased healthcare spending alongside advances in biotechnology and the growing need for preventative treatments.  Biosector is differentiated through its high quality portfolio of adjuvants, with a strong position in human applications.

On completion, Biosector will be integrated into Croda’s Health Care business within the Life Sciences sector. It will continue to be led by its dedicated team, all of whom have extensive, class leading credentials and pharmaceutical experience. Croda will leverage its formulation and purification expertise to accelerate the development of Biosector’s rich pipeline of next generation adjuvant systems. Croda will also utilise its dedicated global sales network to deliver Biosector’s growth potential.

Steve Foots, Chief Executive of Croda, commented: “Biosector is a rare asset, in a high value, fast growing sector of the global pharmaceutical market. With an experienced high-quality team, Biosector brings world-class protected technologies and industry-leading manufacturing facilities. Furthermore, the strong cultural alignment between Biosector and Croda enhances our highly technical-based sales approach and emphasis on value over volume. The opportunity to quickly build upon Biosector’s impressive track record to date is enormously exciting and we look forward to welcoming the team to Croda.”

Croda International Plc (‘Croda’) and SiSaf Ltd (‘SiSaf’) have today announced an exciting new strategic partnership. Croda, the name behind high performance ingredients and technologies that are relied on by industries and consumers everywhere, has agreed a commercial arrangement with SiSaf, a pioneering UK based bio-pharmaceutical company. The arrangement involves the use and development of SiSaf’s patented bio-courier, ProSilic®, a novel drug delivery technology. Croda has also acquired a minority shareholding in SiSaf.

ProSilic will give Croda’s customers access to the next generation of targeted and controlled drug delivery, which can be tailored to meet their specific needs, whilst offering exceptional safety and versatility. This sustainable technology uses biodegradable silicon particles to improve stability, solubility and ultimately the performance of a wide range of active ingredients across many delivery systems.
 
Croda’s investment is a major contributor to SiSaf’s latest round of capital funding that will enable them to accelerate a commercial route to market for this unique technology. SiSaf will also benefit from Croda’s very successful global trading model, further supported by its leading R&D and regulatory expertise. While the partnership will primarily focus on Croda’s Health Care market, the diversity of ProSilic technology will see research projects take place in much wider applications.

Dr Nick Challoner, President Life Sciences, Croda, said; “The cultural fit between Croda and SiSaf, with a strong focus on innovation and sustainability, means that this strategic partnership will bring great benefits to our customers and their formulations. We are hugely excited that through this investment we will be able to exclusively bring this novel, patented technology to our Health Care customers worldwide, enabling them to enhance the performance of their products.”

Dr Suzanne Saffie-Siebert, Founder and CEO of SiSaf, said; “This is more than an investment of capital. It is an investment in our belief that good science equals good business. Our strategic partnership with Croda will turn potential into reality much faster than SiSaf could have achieved alone. We are extremely proud to be working with such an impressive organisation to boost the development of ProSilic technology and together I am sure we will exceed the expectations of Croda’s customers worldwide.”

Croda International Plc, the name behind high performance ingredients and technologies that are relied on by industries and consumers everywhere, today announces the completion of its purchase of Plant Impact Plc, an innovative crop enhancement business.

Using chemistry and novel molecule discovery, Plant Impact identifies ways to improve the yield and quality of crops by stimulating or moderating plant responses in both healthy and stressed crops during key growth stages. Their spray and seed treatment products help growers to unlock the potential of soybean, wheat and other important world crops to help feed our growing population.   

Following the acquisition, Plant Impact will retain its identity, becoming a subsidiary within Croda Europe and reporting into Croda’s Life Science business, which already has a longstanding reputation for crop protection additive and adjuvant ingredients, alongside a seed enhancement offering. Bringing together the technical and marketing expertise of these businesses will deliver an enhanced portfolio of products to customers around the world.

Nick Challoner, President of Croda Life Sciences, said: “With a strong science base, Plant Impact is a natural fit for our Business, as is their focus on sustainably improving yields using crop enhancement, a fast growing sector of the global crop input market. Like our people, their team can draw upon years of experience gained as a leader in the world of agricultural chemicals. Our strategy will be to maximise the benefits that this integration offers.”

John Brubaker, Chief Executive Officer of Plant Impact, said: Croda’s support of Plant Impact’s scientific and commercial development will allow our team to fully deliver the promise of crop enhancement technology for the world’s farmers and for the suppliers who serve them. Together, we will work to grow the Crop Care and Life Science business and offer new innovation to our global customers.”

Croda International Plc, who create, make and sell speciality chemicals for some of the biggest, most successful brands in the world, today announced that it has acquired Nautilus Biosciences Canada Inc (‘Nautilus’), a technology-rich marine biotechnology company based in Charlottetown, Prince Edward Island, Canada.

Nautilus was founded in 2007 by Professor Russell Kerr and, together with its world class scientists, focuses on using marine microbial biodiversity to discover novel actives and materials. Through this acquisition and the associated patents, Croda will utilise this innovative science for applications across all its market sectors.

Croda and Nautilus already have a proven history of successful collaboration, having worked closely together for the past six years developing specific applications for skin care and hair care, as well as crop care. Croda intends to establish Nautilus as a Croda Centre of Innovation for Marine Biotechnology at Nautilus’ existing base at the University of Prince Edward Island. This location is ideal for biotechnology research and has already attracted and facilitated partnerships with many other biotechnology-based companies. Nautilus has exclusive global access to the Marine Microbial Library which is based at the University of Prince Edward Island.

Steve Foots, Chief Executive of Croda, said: “This is another clear example of how sustainable innovation is underpinning our growth plans. With Nautilus as part of the Croda Group, we further expand our expertise in biotechnology; the Nautilus team that will join us have extensive knowledge and expertise in marine biotechnology, also known as “blue biotechnology”. We will be able to bring new, patented products to market, alongside our already well-known green and white biotechnology ingredients, giving us the full spectrum of capabilities within this field of science.”

Professor Russell Kerr, Founder of Nautilus, said: “We have enjoyed a very positive and collaborative relationship with both Croda and the University of Prince Edward Island for a number of years and have always been impressed with Croda’s drive to develop the opportunities from marine biotechnology. Becoming part of the Croda group will provide Nautilus the resources and support to establish a key centre for the research and development of marine-derived natural products, as well as providing Croda new products for commercial success.”

Alaa Abd-El-Aziz President and Vice-Chancellor of The University of Prince Edward Island, said: “We are delighted that a technology rich enterprise coming from the University will become part of an internationally recognised company like Croda, and that their excellent work researching marine microbial microbiology will continue to develop and have commercial realisation. We look forward to future opportunities for partnership and collaboration with both Nautilus and Croda.”

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Croda International Plc (‘Croda’), the name behind high performance ingredients and technologies that are relied on by industries and consumers everywhere, has today announced their investment in the multi-award winning company Cutitronics, who has developed a novel digital solution to meet the demands of personal care consumers.

In response to growing demand for more personalised skin care treatments, Croda recognised the need to look for new innovative technologies, which has led to their minority shareholding in Cutitronics whose patented handheld device assesses skin health and prepares it for the optimum delivery of the skin care formulation it dispatches.

Established in 2014 as a spin-out company at the University of Strathclyde in Scotland, Cutitronics device, CutiTron™, which is in prototype at present, offers bespoke product application for the specific target area of the skin as it analyses its condition while taking into consideration other aspects such as environmental conditions. In doing so, it also captures a far greater amount of data than ever before that Croda can use for future product development due to the better understanding of consumers’ personal care regimes and the factors that influence these.

Croda has an exclusive commercial arrangement with Cutitronics. This relationship is a direct result of Croda’s commitment to their open innovation programme with UK universities. This remains a key strategic focus for Croda and the Company is confident of further investment in this area.

Sandra Breene, President of Personal Care & North America at Croda, will join the Cutitronics Board as a part time Non-Executive Officer to share over 25 years of insight into the global personal care market, and to give the team access to Croda’s formulation expertise and proven history of bringing innovations to market.

Breene said: “I am delighted to be personally involved in this partnership, which will not only allow us at Croda to be part of this intelligent application platform, but it will also enable us to utilise the very latest digital technology to gain greater insight of consumer behaviour using the data the device records.

“We have long known that digitalisation will play a key role in our growth strategy, and with this wealth of information, we can continue to develop innovative and sustainable ingredients, provide better formulation support and share our knowledge with our customers as they strive to deliver the next generation of products to satisfy unmet market needs.”

Dr David Heath, Founder and Chief Executive Officer of Cutitronics said: “Having validated CutiTron™ both technically and commercially, Croda’s support will allow us to bring our technology to market. Their longstanding reputation in delivering innovative solutions to the personal care industry is invaluable to us and we are very excited to be working together with such a responsive and forward looking company.”

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Croda International Plc (‘Croda’), who make, create and sell innovative and sustainable speciality chemicals has today announced its acquisition of Enza Biotech AB, a research enterprise established as a spin-out company from Lund University in Sweden.

Enza Biotech was founded in 2012 by researchers at Lund University with the aim to develop the next generation of renewable surfactants using carbohydrate-based chemistry. Through this acquisition, Enza Biotech’s patented technology will enhance Croda’s well-established natural and renewable product portfolio to offer their customers, particularly in the Personal Care, Crop Care and Health Care markets, the sustainable ingredients they are looking for to satisfy the demands of consumers.

Croda will also gain the expertise of Enza co-founders Maria Andersson and Stefan Ulvenlund, and their team, as they become full time employees to lead the commercialisation of their work using Croda’s technical and formulation expertise, global operational footprint and sales force and track record at bringing new technologies to market.

This acquisition demonstrates Croda’s commitment to delivering sustainable solutions without compromising on product performance as this novel range of surfactants has been proven to offer differentiated performance benefits across many applications, such as emulsification, wetting and dispersion.

Steve Foots, Chief Executive of Croda, said: “Enza Biotech offers a fantastic opportunity for us to fill an identified technology gap in the surfactants market using natural and renewable raw materials. It is a great fit as sustainability underpins our growth strategy and is an area that already sets us apart in the eyes of our customers.”

Maria Andersson, Chief Executive Officer and co-founder of Enza Biotech said: “Croda is the perfect fit for our technology due to their commitment to investing in innovative and sustainable solutions. With their proven track record in bringing new technologies to market and strong customer relationships, we are confident Enza Biotech will have a bright future. We look forward to working with the Croda team and the new opportunities that will bring.”

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Further information:

Jen Ward

Corporate Communications Coordinator

Jennifer.ward@croda.com

01405 864832

About Croda:

Established in 1925, Croda is the name behind high performance ingredients and technologies in some of the world’s biggest and most successful brands: creating, making and selling speciality chemicals that are relied on by industries and consumers everywhere.

They have a network of over 4,200 passionate and committed employees, working together as one global team across manufacturing sites and offices in 36 countries. Croda is a FTSE100 company with a flexible structure that allows them to focus on developing and delivering innovative, sustainable ingredients that their customers can build on in: Coatings and Polymers, Crop Care, Geo Technologies, Health Care, Home Care, Industrial Chemicals, Lubricants, Personal Care and Polymer Additives.

www.croda.com

About Enza Biotech:

Enza Biotech was founded in 2012 as a private spin-off company based on the results of a research programme coordinated by Lund University. A small, but highly innovative company, they combine insight into industrial challenges with a molecular understanding and knowledge of biotechnology based production methods.

The collaboration between biotechnology researchers and material scientists resulted in the design of a production process for a completely novel type of surfactant that meets the needs of many different markets.

www.enzabiotech.com 

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.