Swiss specialty chemicals producer Clariant said it intends to acquire a part of Vivimed Labs’ personal care portfolio.

Clariant said the acquisition of the Indian company will enable its wholly owned subsidiary Clariant India to strengthen its personal care portfolio within the Industrial & Consumer Specialties (ICS) business unit and offer a wider product portfolio within the sun, skin, hair and oral care range as well as anti-microbial preservatives.

“The personal care industry in India offers us immense potential, supported by the growing middle-class consumer population and the rising disposable income,” said Deepak Parikh, Clariant’s region president for India, Middle East and Africa.

Santosh Varalwar, CEO of Vivimed Labs, said the deal with Clariant will “significantly improve” his company’s financial flexibility and position it for further growth across its specialty chemicals and pharmaceuticals businesses.