Yorkshire’s Croda completes £232m Korea acquisition

Croda International Plc confirmed that following receipt of unconditional approval from the South Korean regulatory authorities, it has now completed the acquisition of Solus Biotech.

Croda announced on February 6 it agreed to acquire Solus Biotech, a leader in “premium, biotechnology-derived beauty actives” from Solus Advanced Materials for £232 million.

Croda is a Snaith, East Yorkshire-based FTSE 100 speciality chemicals giant.

Solus Biotech generated £28 million of sales in 2022. It employs 95 people in South Korea at its R&D centre in Bundag near Seoul and its production centre in Iksan.