Amyris, Inc. has announced that it has agreed to acquire Beauty Labs International Ltd. With the acquisition, the company plans to enhance the consumer experience of its consumer brands, including Biossance, Pipette, Rose Inc., JVN, Terasana and Costa Brazil.
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These Amyris brands will utilize Beauty Labs' AI technology to create personalized and connected consumer experiences as well as further accelerate the growth of Amyris's e-commerce revenue.
The parties expect to sign a definitive agreement and close over the next 30 days, subject to the successful completion of due diligence and customary closing conditions.
Mark Gerhard, founder of Beauty Labs, said, "Our Beauty Labs team is excited to become part of Amyris and to help pioneer the next generation of digital consumer experiences. A connected consumer is the future of the beauty and wellness industry, and we are proud to be joining Amyris to bring a new level of sophistication to the consumer experience."
John Melo, president and CEO of Amyris, said, "Mark has built an incredible team and brings a distinctive mindset and capability to accelerate our revenue growth through deeper connections with our consumers. We are building and growing leading clean beauty brands and are committed to an omnichannel strategy of which the digital experience is critical. We partner with some of the world's leading retailers, and we want the consumer to enjoy their beauty experience where they want it and need it. With a cash balance of $250 million, the strongest ingredients development pipeline in our history, significant acceleration of our revenue growth, and continued progress with our remaining strategic transaction, we continue a track record of industry-leading execution."
