Milwaukee-based Sensient Technologies Corp., a manufacturer of colors, flavors and fragrances, announced it has reached agreement to acquire its joint venture partner’s interest in Sao Paulo, Brazil-based Les Colorants Wackherr do Brasil.
The transaction is expected to be completed before the end of the year and will give Sensient full ownership of the cosmetic color and ingredients company. Les Colorants Wackherr do Brasil generates annual revenues of approximately $9.5 million.
Financial terms of the transaction were not disclosed.
Les Colorants Wackherr do Brasil supplies cosmetic ingredients for a range of applications, including nail polish, make-up and skin care. With full ownership of the company, Sensient strengthens its presence in South America. The business has a strong market presence and supplies a growing customer base.
“Sensient’s Cosmetic Technologies business will play a key part in the company’s strategy,” said Kenneth Manning, chairman, president and chief executive officer of Sensient. “Brazil is a very important market and one where we see a tremendous amount of opportunity.”
