Hallstar Will Acquire Sytheon, Developer of High-Performance Active Ingredients for Skin Care
Sytheon’s employees and product portfolio will join Hallstar’s Beauty & Personal Care business
(October 31, 2024, Chicago, Illinois) - Global specialty chemical company Hallstar has announced its purchase of Sytheon, Ltd., whose active ingredients, including hero products like Sytenol® A, the purest Bakuchiol on the market, will comprise a new product line within Hallstar’s Beauty division. Bakuchiol is recognized as the safest, most effective natural alternative to retinol.
Like Hallstar, Sytheon has a global footprint with dynamic, best-in-class R&D capabilities and strong relationships with the world’s top brands. Both companies sell their products directly and through distribution.
Carmen B. Masciantonio, Hallstar President and COO, recently observed that, “Sytheon and Hallstar share an innovation-focused, research-first strategic model, and a nimble, asset-light approach to operations. These have been the core tenets of both our companies’ year-over-year success. In addition,” Masciantonio continued, “Sytheon’s unique, high-performance products and capabilities fit very well within our ingredient porfolio. Hallstar Beauty is eager to start collaborating with these new commercial and technical colleagues.”
Sytheon CEO and President Dr. Ratan K. Chaudhuri and COO François Marchio are also preparing for a fruitful collaboration between the experienced teams, starting on day one. According to Chaudhuri and Marchio,
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“The decision to join Hallstar was made carefully. It came down to finding a partner where not just our global revenue could grow but our people could develop. We are long admirers of Hallstar – its innovation as well as its strong leadership and long-term outlook. The team at Hallstar recognizes the quality and potential of our ingredients. We have a high degree of confidence that becoming part of Hallstar Beauty will fuel future growth and increase our penetration with existing and future customers.” |
Chaudhuri founded Sytheon in 2006 after building an impressive, decades long career in industry and academia. Marchio held several senior management positions at Merck KGaA before joining Sytheon as COO in 2008. The two will continue leading the Sytheon product line and will play key roles in leveraging Hallstar’s global reach and capabilities to drive growth and profitability.
John J. Paro, Hallstar’s Chairman and CEO, stated, “Having new colleagues and complementary expertise join our company is always rewarding,” Paro commented, “but I believe Sytheon and Hallstar have an especially strong affinity as ethical, vital players in the industry. Together, we can do great things for our customers and, importantly, for our own people around the world.”
| Direct media inquiries to Marie Paro at workwonders@hallstar.com |
Oppenheimer & Co. Inc. served as exclusive financial advisor to Sytheon on the transaction.