Safic-Alcan Acquires Majority Stake in Avees Biocos
Safic-Alcan announced that it has acquired a majority stake in Avees Biocos Private Limited.
Safic-Alcan acquires majority stake in Avees Biocos Private Limited.
Safic-Alcan, a leading specialty chemicals distributor, has announced the acquisition of a majority stake in Avees Biocos Private Limited, India's leading personal care chemicals distributor. Founded in 2007 by Rahul and Deepti Sawhney under the guidance and leadership of the late G.K. Sawhney, Avees Biocos established itself as a partner to assist in the supply of advanced-technology ingredients and the formulation of cosmetic products.
Avees offers products including biopolymers, preservatives, emollients, sensory modifiers, UV filters, active ingredients for skin and hair care, emulgators, fragrances and functional polymers. Based in Gurugram, Avees operates an innovation center with state-of-the-art facilities to develop unique formulation solutions for its customers.
Yann Lissillour, Chief Executive Officer of Safic-Alcan Group, stated: "This acquisition is a strategic move for Safic-Alcan to diversify its operations in the Asia Pacific region and strengthen its geographic footprint in personal care with powerful cross-continental synergies. We are pleased to combine our strengths with Rahul and the Avees Biocos team."
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