Syensqo, Solvay's specialty chemicals group, has announced the acquisition of JinYoung Bio, a South Korean supplier of specialty ingredients for cosmetics.
Syensqo thus strengthens its position in the skin care and biotechnology markets, moving towards more natural, high value-added specialty ingredients, composed of both active and functional ingredients.
"This acquisition demonstrates our deep commitment to innovation and our focus on sustainable solutions based on the power of biotechnology. We are determined to make a significant impact on the cosmetics industry by tackling critical issues, both environmental and societal, through pioneering circular solutions."says Ilham Kadri, CEO of Syensqo.
The addition of JinYoung Bio's technologies enriches Syensqo's product portfolio with biomimetic ceramides for hair and skin care applications, and a range of functional ingredients of natural origin to meet the needs of the skin care, hair care and make-up markets.
Ceramides, JinYoung Bio's flagship product range, are obtained by a white chemistry process, fermentation, in line with the work of Syensqo's biotechnology and renewable materials development platform.
"Our goal is to provide our customers with cutting-edge solutions for skincare applications that harness the natural power of specialty ingredients like ceramides. This investment positions Syensqo as a key player in the dynamic market for ceramides, reference ingredients in beauty, including dermocosmetics, which are currently enjoying strong growth".says Michael Radossich, President of Syensqo's Consumer and Resources division.
JinYoung Bio's technical and commercial capabilities will be developed by Syensqo thanks to its proximity to customers worldwide, its technical, applicative and formulatory expertise, and its marketing and regulatory skills.
The first product in Syensqo's ceramides range, along with four functional ingredients, will be presented in the second quarter of 2024, at Supplier's Day in New York.
The stated aim of Syensqo's Home & Beauty Care business is to grow twice as fast as the market.
