Sudarshan Chemical Industries Ltd has entered into an asset purchase agreement with Germany-based Eckart GmbH and its affiliates (part of the Altana Group) to buy out its cosmetics portfolio based on natural mica. The company declined to reveal the financials of the deal.
The purchase covers all products under the brand names Prestige and Flonac-C that were produced at Eckart's Finnish plant in Pori.
In a statement, Sudarshan said it will add the new pearlescent product lines to its existing pigment portfolio sold under the Sumicos brand name. The entire portfolio will be manufactured at Sudarshan's facilities at Roha and Mahad in Maharashtra.
The closing of the deal has been planned for January 23, 2012 after which Eckart will exit from the cosmetic portfolio based on natural mica and Sudarshan will conduct the business.
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