Solabia announces the acquisition of a majority stake in Applechem, Inc. Founded in 2003 by Dr. Samuel Lin at the Enterprise Development Center of the New Jersey Institute of Technology, Applechem offers a diverse range of innovative ingredients for cosmetics, personal care and sunscreen formulations. With a global reach, Applechem offers a variety of eco-friendly products, providing versatile, reliable and user-friendly solutions to leading brands.
Solabia is a recognized player in the cosmetics sector, with an extensive portfolio of high-quality active ingredients combining naturalness and proven efficacy. This acquisition is part of Solabia's strategy to consolidate its activities in this high-growth market. It will enable the company to benefit from a wider range of ingredients and strengthen its position at a time when customers in the personal care industry are increasingly looking for high-performance, easy-to-use ingredients. It will also help strengthen Solabia's presence in the strategic US market, while opening up new development opportunities for both companies in Europe and Asia. Dr Samuel Lin, founder of Applechem, will retain a minority stake and remain CEO of the company.
"We are very pleased to welcome Applechem's highly talented and respected teams to Solabia. This transaction will enable both companies to benefit from their combined know-how and offer a broader portfolio of high-performance ingredients to a wider customer base. It is also in line with our international development strategy, and demonstrates our ability to attract successful companies to the Solabia group, as we seek to develop our activities in high-potential markets".commented Jean-Baptiste Dellon, Solabia's Managing Director.
"By combining Applechem's specialty ingredient solutions with Solabia's excellent portfolio of actives, this new partnership will enable us to better serve our customers on a global scale. The association with the Solabia group will enable our collective expertise in specialty functional ingredient technologies and high-performance bioactive platforms to accelerate the development of innovative new cosmetic ingredients. We look forward to consolidating our reputation for excellence and innovating alongside a company that shares our passion, values and ambition".said Samuel Lin.
