- Ceapro (CZO) has signed an exclusive supply and distribution agreement with Symrise
- The agreement covers the distribution and commercialization of Ceapro’s active ingredients to major international cosmetics companies
- Symrise will make minimum annual purchases from the company
- Ceapro develops extraction technology to produce active ingredients from oats and other renewable plant resources
- Ceapro (CZO) is up by 14.29 per cent trading at $0.48 per share
Ceapro (CZO) has signed an exclusive supply and distribution agreement with Symrise.
Symrise is a global supplier of fragrances, flavours, food, nutrition and cosmetic ingredients.
The long-term agreement covers the distribution and commercialization of Ceapro’s active ingredients to major international players in the cosmetics market.
Symrise is guaranteed to purchase minimum annual volumes of the company’s active ingredients, though financial terms were not disclosed.
“This agreement not only provides security for our ongoing cosmeceuticals base business but also is expected to enable us to accelerate the growth of that base business through the potential to expand the list of exclusive customers to Symrise,” stated Gilles Gagnon, President and CEO of Ceapro.
“Ceapro and Symrise have a long-standing relationship in product development that has benefitted both companies over the years,” added Joern Andreas, President of Symrise’s Cosmetic Ingredients Division. “We see great value in this partnership and are very pleased to have secured this agreement, which will continue to pave the way for future developments that I believe will benefit both companies in creating value.”
Ceapro develops extraction technology to produce active ingredients from oats and other renewable plant resources.
Ceapro (CZO) is up by 14.29 per cent trading at $0.48 per share as of 1:40 pm EST.