Amyris, Inc. has announced that it has entered into an agreement to acquire Costa Brazil, a clean luxury beauty and wellness brand. With the acquisition, Amyris will appoint co-founder Francisco Costa as chief creative officer of the company.
Related: Amyris Launches Terasana
Amyris plans to leverage Costa Brazil's science platform and fermentation technology to develop and scale Costa Brazil products.
All of the brand's products are made from pure, potent, enriching ingredients, sustainably sourced from the Amazon. By sourcing Costa Brazil ingredients from the Amazon in a sustainable way and applying the science of biotechnology, Amyris will continue to support the local communities where these ingredients are found.
A definitive agreement is expected to be signed by the end of March 2021; the transaction is expected to close at that same time.
Amyris is accelerating its growth in clean beauty with the addition of Costa Brazil to its family of consumer brands, which includes Biossance, Pipette baby and mother care, Rose Inc. clean cosmetics brand, JVN, and Terasana.
Co-founder of Costa Brazil, Francisco Costa, said, "My vision for Costa Brazil has always been to create a brand where beauty is inseparable from the health of the earth. Amyris will be able to help execute this vision through its innovative science and research. There is no other company that has the same level of commitment to clean formulation, social responsibility, ethical sourcing and performance. Amyris puts the needs of customers and of the planet at the forefront, and I'm excited to be part of the transformation they are bringing to the beauty industry."
John Melo, president and chief executive officer of Amyris said "We are very excited to be adding to our portfolio a truly differentiated offering. We welcome Francisco, whose successful track record at Calvin Klein, launch of Costa Brazil, together with his own creative talents, will help us accelerate the transition of the beauty industry to a science-backed business that delivers sustainability without compromise to performance. The Costa Brazil brand is loved by its consumers, and the addition of Mr. Costa to our company will deepen that authentic connection between Amyris brands and our consumers. We are experiencing a consumer 'Supercycle' in beauty driven by consumer demand for healthy skin and a focus on clean, sustainably sourced ingredients that deliver the best performance for consumers and our planet. Amyris's clean beauty consumer business continues its recent trajectory of more than doubling revenue versus the same period last year."
