Amyris To Acquire Beauty Labs
April 14, 2021
EMERYVILLE, Calif. -- Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, today announced that it has agreed to acquire Beauty Labs International Ltd. ("Beauty Labs"), a leader in AI technology that provides breakthrough connected consumer experiences to the beauty and wellness community.
Amyris is accelerating its growth and market leadership in clean beauty by adding digital innovation to further enhance the consumer experience of its family of consumer brands consisting of Biossance®, Pipette®, Rose Inc., JVN, Terasana, and Costa Brazil. These Amyris brands will utilize Beauty Labs' leading edge AI technology to create compelling, personalized, connected consumer experiences and further accelerate the growth of Amyris's ecommerce revenue.
"Our Beauty Labs team is excited to become part of Amyris and to help pioneer the next generation of digital consumer experiences," said Mark Gerhard, Founder of Beauty Labs. "A connected consumer is the future of the beauty and wellness industry, and we are proud to be joining Amyris to bring a new level of sophistication to the consumer experience."
"Mark has built an incredible team and brings a distinctive mindset and capability to accelerate our revenue growth through deeper connections with our consumers," commented John Melo, President and CEO of Amyris. "We are building and growing leading clean beauty brands and are committed to an omnichannel strategy of which the digital experience is critical. We partner with some of the world's leading retailers, and we want the consumer to enjoy their beauty experience where they want it and need it. With a cash balance of $250 million, the strongest ingredients development pipeline in our history, significant acceleration of our revenue growth, and continued progress with our remaining strategic transaction, we continue a track record of industry-leading execution."
The parties expect to sign a definitive agreement and close over the next 30 days subject to the successful completion of due diligence and customary closing conditions.
About Beauty Labs
Beauty Labs International Ltd., with bases in both the UK and US, is an independent, employee-owned technology company that pioneers the future of enhanced reality in beauty and wellness. Consumer expectations are rapidly changing, and they are looking for brands and products that understand 'who' they are and 'what' they stand for in a personalized and interactive way. Beauty Labs enhanced reality experiences put the customer first, embracing their sense of immediacy, leveraging the familiar, and keeping interactive moments short and assistive. &vest, a consumer brand investment and incubation platform, is an investor and operational partner to Beauty Labs.
About Amyris
Amyris (Nasdaq: AMRS) is a science and technology leader in the research, development and production of sustainable ingredients for the Clean Health & Beauty and Flavors & Fragrances markets. Amyris uses an impressive array of exclusive technologies, including state-of-the-art machine learning, robotics and artificial intelligence. Our ingredients are included in over 3,000 products from the world's top brands, reaching more than 200 million consumers. Amyris is proud to own three consumer brands - all built around its No Compromise® promise of clean ingredients: Biossance® clean beauty skincare, Pipette® clean baby skincare and Purecane™, a zero-calorie sweetener naturally derived from sugarcane. For more information, please visit www.amyris.com.
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding Amyris's plans to accelerate its growth and market leadership in clean beauty by adding digital innovation, utilize Beauty Labs' leading edge AI technology to create enhanced consumer experiences for Amyris's family of consumer brands, and accelerate the growth of Amyris's ecommerce revenue; Amyris's expectation that the acquisition of Beauty Labs will add digital innovation and AI to engage in real-time with consumers and develop long-lasting relationships with Amyris's brands; and expectations regarding signing and closing the acquisition and the timing thereof. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to any delays or failures in the successful acquisition and integration of Beauty Labs and its business; potential delays or failures in development, production, regulatory approval and commercialization of products; risks related to Amyris's reliance on third parties (including in the supply chain), Amyris's liquidity and ability to fund operating and capital expenses, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo, No Compromise, Biossance, Pipette, and Purecane are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
SOURCE Amyris, Inc.