Sophim bolsters cosmetic ingredients portfolio with upcycled nutraceuticals in Novastell acquisition
10 Apr 2024 --- Natural cosmetic ingredients manufacturer Sophim completes the acquisition of Novastell, a supplier of nutritional and functional ingredients.
With a strong presence in the cosmetics and pharmaceutical sectors, Sophim is “pursuing its growth” with this acquisition.
“[It] is of particular importance given the convergence of our business models: Novastell, as Sophim, valorizes byproducts from the edible oil industry to create ingredients for the nutraceutical industry,” says Alexis Margnat, managing director of Sophim.
“This match not only reflects our shared values, but also responds to market dynamics, reinforcing the strategic relevance of our merger.”
Leveraging upcycling advances
The merger marks a new stage in Sophim’s diversification. Through this integration, Sophim raises its consolidated sales for 2023 to €36 million (US$39.1 million), with a total workforce of 80, while asserting its status as an “integrated and autonomous player.”
“Synergies between cosmetics and nutraceuticals are increasingly numerous. This acquisition will enable us to accelerate our growth and bring new products to market more quickly,” comments Jacques Margnat, chairman and CEO of Sophim.
In September, Sophim completed a €20 million (US$21.5 million) funding round to finance its growth toward its target of developing from a small-to-medium firm to a mid-cap company.
In-Cosmetics showcase
Sophim will be exhibiting at the upcoming In-Cosmetics trade fair in Paris, France, where Personal Care Insights will be reporting live (April 16–18).
The supplier will highlight its portfolio of natural emollients with “unique and extreme” sensory feel, natural texturing agents, natural alternatives to silicones and petroleum jelly, and natural vegetable organic oils and butters.
The company will also showcase its Phytosqualan QD Grade, which was introduced this year. “QD,” standing for “quasi-drug,” refers to a distinct category of beauty products in Japan, which occupies a crucial space between cosmetics and pharmaceuticals.
“The analysis methods, tests and specifications for quasi-drug products in Japan differ from those for cosmetic products in Europe or elsewhere. Our product complies with the vegetable squalane monograph from the current Japanese standards of quasi-drug ingredients,” Sophim highlights.
Phytosqualan QD Grade is a natural vegetable squalane, sourced from olives and used as an emollient in cosmetic formulas. Sophim claims it has been successfully declared “compliant” by a Japanese laboratory.
Upcycled from olive oil residues, 95% of the byproducts produced during the ingredient’s manufacturing process are valorized.
“After squalene extraction from olive oil residues, its hydrogenation gives squalane, a highly stable molecule, used as a high performing, dry emollient,” details the supplier.
By Benjamin Ferrer
