Amyris to sell certain cosmetic ingredients to Givaudan

Givaudan announced that it has reached an agreement to acquire certain cosmetic ingredients from Amyris, including Neossance Squalane, the highest performant emollient, Neossance Hemisqualane, the plant-based silicone alternative and CleanScreen, the sustainable sun protector. Givaudan and Amyris have signed a long-term partnership agreement under which Amyris will continue to manufacture ingredients for Givaudan to use in cosmetics, as well as provide access to their innovation capabilities. Givaudan will become the commercialization partner for future sustainable beauty ingredients. Amyris and Givaudan have a significant partnership to leverage the value of Amyris’ technology platform for designing, scaling and manufacturing the best performing biofermented ingredients. The terms of the deal include a combination of an upfront cash consideration and a performance based earnout, along with a long-term manufacturing agreement. Further details have not been disclosed and Givaudan plans to fund the transaction from existing resources. Amyris’ active cosmetic ingredients business would have represented approximately $30 million of incremental sales to Givaudan’s results in 2022 on a proforma basis. Closing of the transaction is subject to customary review and approvals from the relevant regulatory authorities.