Clariant, a world leader in specialty chemicals, has entered into an agreement with an intent to acquire a part of Vivimed Labs Limited’s personal care portfolio, subject to necessary regulatory, statutory and other approvals, as may be required. The acquisition will enable Clariant India Ltd (a 100 per cent subsidiary of Clariant Group) to strengthen its personal care portfolio within the industrial & consumer specialties (ICS) business unit, by offering a wider product portfolio within the sun, skin, hair and oral care range as well as anti-microbial preservatives.
“The personal care industry in India offers us immense potential, supported by the growing middle-class consumer population and the rising disposable income. This strategic decision will be a significant step towards strengthening our product portfolio and thereby reinforcing Clariant’s long term commitment in the segment,” commented Dr. Deepak Parikh, region president, India, Middle East and Africa, Clariant.
“We believe in the growth potential that India offers and are focussed on expanding our footprint in the region.”
Stephen Lynen, head ICS, Asia Pacific, Clariant said, “This marks an important step in our global strategy to enhance our offering in personal care and to boost our presence in Asia. The transaction will strengthen our portfolio with actives to formulate broader solutions such as sun protection in a strong growing market – India.”
“This reinforces our commitment to grow in the personal care space in India. This acquisition will enable us to expand our footprint and provide our customers with end-to-end solutions in sync with the current industry trends. The strong growth perspective of the personal care industry results in a bright future for the ICS business in India,” added R. Kumaresan, head of BU ICS, India.
Santosh Varalwar, MD & CEO, Vivimed Labs Limited said, “I am pleased to announce an important strategic development at Vivimed. This transaction will help us significantly improve our financial flexibility for future growth. We are confident that this transaction, once completed, will position Vivimed optimally to move to the next level of growth, across its speciality chemicals and pharmaceuticals businesses.”