Chemicals giant Croda completes major international takeover
Cllr Sean Chaytor, CEO Steve Foots, Hull site egnineer John Batty and Croda Chairman Anita Frew
By Hull Daily Mail | Posted: 15 Jan 2018
A major East Yorkshire-based chemicals firm has announced the acquisition of a Canadian marine biotechnology company.
Croda International, which is headquartered in Goole, has acquired Nautilus Bionsciences Canada Inc (Nautilus) for an undisclosed amount.
In February, Croda also announced a £27m investment into its Hull plant off Clough Road, to double its capacity and meet production needs until 2030.
Croda was established in 1925, creating, making and selling specialist chemicals for some of the world’s biggest and most successful brands.
In December, the East Yorkshire firm also expanded internationally with the €24m purchase of Finnish technology supplier IonPhasE.
The firm plans to utilise the scientific technologies developed by Nautilus, which was founded in 2007 by Professor Russell Kerr, in Prince Edward Island, Canada.
Croda and Nautilus have already worked together for the past six years on numerous collaborations, developing application for skin care and hair care.
Steve Foots, chief executive of Croda, said: “This is another clear example of how sustainable innovation is underpinning our growth plans.
“With Nautilus as part of the Croda Group, we further expand our expertise in biotechnology; the Nautilus team that will join us have extensive knowledge and expertise in marine biotechnology, also known as “blue biotechnology”.
“We will be able to bring new, patented products to market, alongside our already well-known green and white biotechnology ingredients, giving us the full spectrum of capabilities within this field of science.”
Professor Russell Kerr, founder of Nautilus, said: “We have enjoyed a very positive and collaborative relationship with both Croda and the University of Prince Edward Island for a number of years and have always been impressed with Croda’s drive to develop the opportunities from marine biotechnology.
“Becoming part of the Croda group will provide Nautilus the resources and support to establish a key centre for the research and development of marine-derived natural products, as well as providing Croda new products for commercial success.”
Alaa Abd-El-Aziz, president and vice-chancellor of The University of Prince Edward Island, said: “We are delighted that a technology rich enterprise coming from the University will become part of an internationally recognised company like Croda, and that their excellent work researching marine microbial microbiology will continue to develop and have commercial realisation.
“We look forward to future opportunities for partnership and collaboration with both Nautilus and Croda.”