Belgian specialty chemicals company Syensqo has finalized its purchase of JinYoung Bio, a South Korean-based supplier of cosmetic ingredients headquartered in Suwon-si. JinYoung Bio specializes in ceramides.
Stated that the investment was a move towards broadening its range of natural and premium skincare solutions. JinYoung Bio’s technology encompasses biomimetic ceramides designed for skincare and haircare purposes, along with a variety of bio-based functional ingredients utilized in skincare and cosmetics.
Ceramides are manufactured through biotechnology utilizing a fermentation method. Syensqo stated that this aligns with its strategy focused on renewable materials and expansion in biotechnology.
“This acquisition reflects our deep commitment to innovation and our focus on sustainable solutions leveraging the power of biotechnology,” said Ilham Kadri, CEO of Syensqo. “We are dedicated to making a meaningful impact in the beauty industry, addressing critical environmental and societal challenges with groundbreaking circular solutions.”
Syensqo’s beauty care division intends to enhance Jinyoung Bio’s commercial and technical capabilities by leveraging its customer reach, formulation and application expertise, and marketing abilities. The company aims to introduce its initial product from the ceramides line along with four functional ingredients in the second quarter of 2024. This initiative supports Syensqo’s Home & Beauty Care business goal to achieve growth twice as rapidly as the market.
Syensqo is set to unveil its inaugural product from the ceramides line during NYSCC Suppliers’ Day in New York this week. Additionally, the company plans to introduce four functional ingredients in the second quarter of 2024.
