Croda International completed the acquisition of Solus Biotech from Solus Advanced Materials for £232m.

Croda International, a British speciality chemicals company, completed the acquisition of Solus Biotech, a provider of premium, biotechnology-derived beauty actives, from Solus Advanced Materials, a Korea-based company principally engaged in the manufacturing and sale of electronic components, for £232m. "This is a strategic bullseye for Croda, consolidating our position as a global leader in supplying sustainable, natural actives for personal care across three critical technology platforms of peptides, ceramides and retinol. It significantly enhances our sustainable biotechnology capabilities and adds a North Asia manufacturing and innovation facility, providing a springboard to premium markets in Asia and beyond. I am especially excited about their brilliant technology, with Solus bringing rich IP and proprietary know-how that we will be able to deliver to customers globally," Steve Foots, Croda CEO.