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News from Abroad

INORGANIC GROWTH
Croda acquires Spanish fragrances and flavours

firm, Iberchem

UK-based speciality chemicals
company, Croda International, has
agreed to acquire Iberchem, a Spa
nish fragrances and flavours company,
for Euro 820-mn ($973-mn). Iberchem
has been majority owned by invest-
ment company Eurazeo since 2017.

“The complementary operations
of the two companies, combined with
an ambitious growth synergy pro-
gramme, is set to create additional
value for customers. Many custo-
mers require both ingredients and
fragrances and can expect to benefit
from collaborative thinking and full Over the last three years, and home care products. A further
formulation development made pos- Iberchem has significantly reinforced 20% of sales are generated by its
sible by this acquisition,” Croda said its position as a leading global pro- Scentium flavours business, princi-
in a press note. ducer of fragrances and flavours pally for food, pharmaceutical and
focusing on local and regional brands oral care applications.
Iberchem was founded in 1985 and
is headquartered in Murcia, Spain. As in high-growth international markets,
at August 2020, it had approximately especially in Asia, Latin America, the Commenting on the deal, Mr.
850 employees, 14 manufacturing Middle East and Africa. Iberchem Steve Foots, CEO of Croda observed,
facilities, 10 R&D centres and a com- focuses on delivering tailor-made pro- “By bringing our businesses together,
mercial presence in 120 countries. ducts at speed, mainly in particular we are creating a new, full service
in customer niches such as ‘own- offering to our customers in Consumer
Iberchem will remain an indepen- brand’, regional and independent Care markets and a compelling plat-
dent entity with support from Croda, consumer brands, a customer profile form from which to grow the combined
continuing to serve its customers that is aligned to Croda’s own. business in the years ahead. We look
while collaborating with Croda teams forward to welcoming our new col-
on cross selling and other revenue Approximately 80% of Iberchem leagues to Croda and leveraging our
synergy opportunities. sales are fragrances for personal care respective networks and expertise.”

Estée Lauder Companies reaches climate goals and

sets new targets

American cosmetics major, Estée based emissions reduction targets per unit revenue over the same time-
Lauder Companies (ELC), recently for its direct operations and value frame.
announced that it has achieved net chain, committing to reduce its ab-
zero emissions and sourced 100% solute scope 1 and 2 greenhouse gas To achieve its net zero emissions
renewable electricity globally for its emissions (GHG) emissions 50% by ELC focused first and foremost on re-
direct operations. The group thus 2030 from a 2018 base year. ELC also ducing its operational carbon footprint
reached the targets it set on in 2017. pledged to reduce scope 3 GHG emis- by deploying high-quality solutions
sions from purchased goods and ser- and investing in projects bringing addi-
Building upon this achievement, vices, upstream transportation and tional renewable energy to the grid, in
the group is setting new science- distribution, and business travel 60% particular in wind power farms.
Home, Personal & Institutional Care India November 2020 25