Amyris Acquiring Costa Brazil Clean Beauty Brand - Francisco Costa To Join Amyris As Chief Creative Officer
EMERYVILLE, Calif., March 1, 2021 /PRNewswire/ -- 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, announces that it has entered into an agreement to acquire Costa Brazil. Amyris is accelerating its growth and market leadership in clean beauty with the addition of Costa Brazil to its family of consumer brands, including Biossance®, Pipette®, Rose Inc., JVN, and Terasana. Co-founded by Francisco Costa and Michele Levy, Costa Brazil is a clean luxury beauty and wellness brand inspired by the rich, natural essence of Mr. Costa's home country of Brazil. Amyris plans to leverage its science platform and fermentation technology to develop and scale Costa Brazil products. All products are made from pure, potent, enriching ingredients, sustainably sourced from the Amazon, and activated using the latest technologies. 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. "My vision for Costa Brazil has always been to create a brand where beauty is inseparable from the health of the earth," commented Mr. Costa. "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." With the acquisition of Costa Brazil, Amyris will appoint Francisco Costa as Chief Creative Officer of the company. "We are very excited to be adding to our portfolio a truly differentiated offering," said John Melo, President and Chief Executive Officer of Amyris. "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." A definitive agreement is expected to be signed by the end of March and, subject to customary closing conditions, the transaction is expected to close at that same time.