(MENAFN) Lubrizol Corp., owned by Warren Buffett's Berkshire Hathaway Inc, stated that it is purchasing Spanish Lipotec SA, which makes skincare products, reported AP.
Lubrizol added that the deal, whose financial terms were unveiled, includes the purchase of Lipotec's cosmetic active ingredients business and its subsidiaries, Diverdrugs and Lipofoods.
It said that when the deal is sealed, within 60 days, the Barcelona-based firm will be integrated into Lubrizol's advanced materials business, adding that Lipotec, Diverdrugs and Lipofoods will keep their names.
It is worth noting that Lipotec's brands include Snap 8 and Eyeseryl.
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