Headquartered in New Jersey, Lipo Chemicals supplies the personal care industry with ingredients and technologies, and Ruger supplies both the pharmaceutical and cosmetics industries.
Vantage specializes in oleochemicals with customers operating in a number of business sectors, but it was Lipo’s strength in the personal care market that attracted Vantage to the company.
“Lipo’s excellent reputation for service and innovation in the personal care market and its global reach are strategic assets of the company and provide a strong platform for growth,” said CEO of Vantage, Julian Steinberg.
While Vantage has some presence in the personal care market, it will be boosted by the partnership, explained Melissa Frischling director of corporate communications at the company.
"Vantage Specialty Chemicals currently has a small position in the Personal Care Market. Partnering with Lipo greatly expands this position as personal care is Lipo's main market sector globally," she told CosmeticsDesign.com USA.
Increased investment
For Lipo, the merger will allow the business to grow due to added investment and resources.
“Lipo’s customers will benefit from the added resources of the combined company while maintaining Lipo’s focus and strength in the personal care market,” said president of Lipo Chemicals and Ruger Chemical, Craig Frischling.
Although Lipo will become an affiliate of Vantage, the company said it would continue to be headquartered in New Jersey and confirmed that the current management will remain with the business.
The joint company will bring in sales of approximately $500m a year with a presence in thirteen countries.