Written on: November 5, 2024 by SprayTM
Global specialty chemical company Hallstar has announced its purchase of Sytheon, Ltd., whose active ingredients will comprise a new product line within Hallstar’s Beauty division. Both companies sell their products directly and through distribution.
Carmen Masciantonio, Hallstar President & COO, stated, “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 products and capabilities fit very well within our ingredient portfolio. Hallstar Beauty is eager to start collaborating with these new commercial and technical colleagues.”
Sytheon CEO & President Ratan K. Chaudhuri and COO François Marchio are also preparing for a fruitful collaboration between the experienced teams. In a joint statement, Chaudhuri and Marchio said the decision to join Hallstar was made carefully and came down to finding both a partner where Sytheon’s global revenue could grow and employees 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,” they stated.
Chaudhuri founded Sytheon in 2006 after a 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 Paro, Hallstar’s Chairman & CEO, stated, “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.”
