“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