Lubrizol Corporation purchases Lipotec

Lubrizol corporation, a company belonging to the american entrepreneur warren buffett, has taken over the catalan firm lipotec, which makes cosmetic compounds for firms such as christian dior and estée lauder.

this is now mr. buffett’s second purchase of a catalan company in less than a year. following on from the takeover of the chemical firm merquinsa, lubrizol corporation has now signed the acquisition of lipotec; a business focused on producing cosmetic compounds for luxury brands in the industry. nevertheless, the group companies gp pharm, a biotech enterprise, and singuladerm, a cosmetic product range launched by lipotec were not part of the deal.

lipotec’s sales reached €25 million last financial year, and the company established a pied à terre in the us. lipotec, present at the bio biotech fair in boston, took advantage of the event to seal the accord with lubrizol.

source: expansión, 20/6/2012