By Elena VardonTHG PLC agreed to buy skincare brand Biossance for up to $20 million. The seller is U.S. biotech group Amyris, which recently filed for bankruptcy. The deal is expected to close in mid-December and integration to complete in the first quarter of 2024, it added. "The fit within THG is perfect, with Biossance already generating around $2 million in revenue across our retail sites in the past 12 months," Chief Executive Matthew Moulding said. Write to Elena Vardon at elena.vardon@wsj.com

Source: Wall Street Journal December 05, 2023 16:55 UTC