Solvay Invests in Suanfarma Site to Support Natural Ingredients
Solvay is investing in Suanfarma’s manufacturing site in Lisbon, Portugal, run by subsidiary Cipan, to develop its biotechnological capabilities and support the development of natural ingredients used in the food, flavors and fragrance industries. The move is the first of a long-term strategic alliance between the two firms.
“The investment is in line with our newly formed Renewable Materials and Biotechnology growth platform, and will boost our ability to meet our customers' long-term needs and enable the switch to bio-sourced and natural ingredients,” said An Nuyttens, president of Solvay’s aroma & silica global business units.
The transaction is expected to be completed by mid-2023. Solvay did not disclose the size or value of the investment in the Lisbon site.
Headquartered in Madrid, Spain, Suanfarma manufactures and distributes APIs and nutraceuticals. ArchiMed, a private equity group specializing in the healthcare sector, took a majority stake in Suanfarma in November 2021.
On May 3, Solvay launched its Renewable Materials and Biotechnology platform, which is dedicated to developing innovative and sustainable solutions for a range of markets using renewable feedstocks and biotechnology. The Belgian group’s three other growth platforms are Battery Materials, Green Hydrogen and Thermoplastic Composites.
Author: Elaine Burridge, Freelance Journalist
