Japanese Trading House to take Majority Share in Paris-based SACI-CFPA
Japanes trading house Sumitomo Corporation (Tokyo, Japan) earlier this week announced that it has reached an agreement to acquire 90% of the shares of Specialty Chemicals and Cosmetics Ingredients distributor SACI-CFPA [“SACI”] (Paris, France) for an undisclosed sum.
SACI, which dates its origins back to the formation of a company called Comptoir Française des Produits Aromatiques Coloniaux (CFPAC) in 1937, then an importer of essential Oils, today distributes ingredients, develops formulations, and provides solutions to cosmetic manufacturers in France, a major market in Europe, according to the statement. It is one of the largest distributor of its kind that deals exclusively with cosmetic ingredients, supplying over 300 companies, including French multinationals. The product portfolio also includes “naturally derived ingredients that are in especially high-demand throughout the European market”, Sumitomo said.
No financial details were disclosed on the transaction.
Source: Sumitomo press releases; SACI-CFPA website
HGE / DCG – 05.04.2019