Beauty business highlights: Univar Solutions, Sun Pharma and Lacore close acquisitions across personal care
24 Jan 2023 --- The latest business developments in the beauty industry include acquisitions by key suppliers expanding their activities in skincare ingredients, hair solutions and home cleaning products. Acquisitions play a major role in cross-sectoral collaborations, which bring in research and technology from important sectors that can enhance personal care solutions.
Univar Solutions, a global supplier of specialty chemicals and ingredients, has inked an agreement to acquire Kale Kimya, a major Turkish distributor of specialty chemicals.
Founded in 1975, Kale Kimya offers laboratory formulation capabilities and technical expertise. It holds a broad portfolio of beauty and personal care products and household and industrial cleaning supplies, including surfactants, actives, emulsifiers, preservatives, UV filters, fragrances, polymers, conditioners, esters and emollients.
“This acquisition strengthens our strategy for growing the ingredients and specialty business with a leading company that leverages and strengthens our strengths, geographic presence and product portfolio,” says Nick Powell, president of Global Ingredients and Specialties at Univar Solutions.
“I am pleased to soon welcome Kale Kimya to the Univar Solutions family. [Its] experience and knowledge will support our clients in the region as we continue to take advantage of changing consumer trends in the marketplace.
Terms of the transaction were not disclosed. Closing of the acquisition is subject to certain regulatory approvals and is expected to close in the first quarter of 2023.
Sun Pharma acquires Concert Pharmaceuticals
Sun Pharmaceutical Industries (Sun Pharma) has entered a definitive agreement with Concert Pharmaceuticals to acquire all its outstanding shares. Concert is a late-stage biotechnology company that pioneered the use of deuterium in medicinal chemistry.
Concert says it has an extensive patent portfolio, including its lead product candidate, deuruxolitinib – an oral inhibitor of the Janus kinases JAK1 and JAK2 for the treatment of alopecia areata – which is in an advanced stage of development.
Sun Pharmaceutical Industries (Sun Pharma) has entered a definitive agreement with Concert Pharmaceuticals to acquire all its outstanding shares (Image Credit: Sun Pharmaceutical Industries).Sun Pharma’s immediate focus would be to follow Concert’s plan to submit a new drug application to the US Food and Drug Administration in the first half of 2023.
Alopecia areata is an autoimmune disease in which the immune system attacks the hair follicles, resulting in partial or complete loss of hair on the scalp and body. It may affect up to 2.5% of the US and global population during their lifetime, highlights Sun Pharma.
The scalp is the most commonly affected area, but any hairy site can be affected alone or in conjunction with the scalp.
Onset of the disease can occur throughout life and affects both women and men. Alopecia Areata can be associated with serious psychological consequences, including anxiety and depression. Currently, there are limited treatment options available for Alopecia Areata.
Concert has completed the evaluation of the efficacy and safety of deuruxolitinib in adult patients with moderate to severe Alopecia Areata in its THRIVE-AA Phase 3 clinical program, and two long-term open-label extension studies are ongoing in North America and Europe.
The transaction was approved by the boards of directors of both companies.
Abhay Gandhi, CEO of Sun Pharma North America, highlights a “significant unmet need” in the alopecia areata space. “We are well positioned to bring this product to market around the world,” he comments.
Lacore takes over Jeunesse Global
Lacore – a US-based specialist in batch manufacturing of dietary supplements, sports nutrition and personal care products – has acquired 100% ownership and managing interest of international beauty brand Jeunesse Global.
The acquisition by a Lacore affiliate company will bring Jeunesse Global’s skincare and wellness products to Lacore’s umbrella of companies, strengthening its position in the international health and beauty market.
Lacore will assist Jeunesse in creating infrastructure to support its extensive distributor network across 30 offices in eight global regions, in 124 countries across the globe.
Terry LaCore is appointing Jason Borné as CEO. Borné brings an 18+ year relationship with Lacore and over 30 years of networking experience with a focus on leadership development, sales and training.
Borné will work alongside a newly established Distributor Advisory Group and corporate sales training leaders to drive Jeunesse revenue and the quality of both the customer and distributor experience.
Lacore is also naming Demont Rainge as COO. Demont Rainge has over 20 years of experience in operational control and Global Supply Chain. He brings his knowledge and experience in strategic planning, manufacturing, as well as all other aspects of Supply Chain, with a proven track record of driving growth and efficiencies globally.
Lacore will also be appointing representatives to the Jeunesse Board of Managers including Terry’s advisor Jenifer Grace. Teaming up with Terry in 2008, and then joining full-time in 2010, Grace leads legal and operational aspects at Lacore.
By Benjamin Ferrer
