Specialty chemical supplier Cognis has announced today that it has formally completed the sale of its Botanical Extracts business to Burgundy Botanical Extracts Iberia.

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Cognis says it has completed this deal in order to streamline its portfolio in businesses which offer critical mass and bring competitive synergies in its key markets. Burgundy is a fast growing company specialising in the botanical extract business which has its headquarters in Lyon, France.

Stéphane Baseden, Cognis’ executive vice president of nutrition and health, says of the deal with Burgundy: “We are very pleased about this agreement and Cognis will work closely together with Burgundy to ensure a smooth transition of business operations.”

Under the agreement Cognis will continue production and distribution of certain botanical products for the cosmetics industry and will retain ownership of its Plantalin range – comprising of selective plant extracts designed for functional food and beverage applications.