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Biobased Chemicals

Croda to buy US lipids producer Avanti

by Alex Scott
July 11, 2020 | APPEARED IN VOLUME 98, ISSUE 27

 

The UK specialty chemical firm Croda International has agreed to buy Avanti Polar Lipids, an Alabama-based producer of lipid-based technologies for drug delivery, for $185 million, plus $75 million dependent on financial performance. Croda expects Avanti to have a transformative impact on its life sciences activities. Founded in 1967 by CEO Walter Shaw, Avanti develops lipids and manufactures them at qualities sufficient for pharmaceutical use. The firm says it has 150 staffers and 3,000 customers.

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