« Clariant India Ltd. has announced that it will acquire part of Vivimed Labs Limited’s personal care portfolio, subject to necessary regulatory, statutory and other approvals. The acquisition will enable the 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.”
“This marks an important step in our global strategy to enhance our offering in personal care and to boost our presence in Asia,” added Stephen Lynen, Head ICS, Asia Pacific, Clariant. “The transaction will strengthen our portfolio with actives to formulate broader solutions such as sun protection in a strong growing market – India.”
Santosh Varalwar, MD and CEO of Vivimed Labs Limited, added, “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.”
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