Croda International

{{Short description|British chemicals company}} {{Use dmy dates|date=November 2020}} {{Use British English|date=April 2019}} {{Infobox company | name = Croda International plc | logo = Croda Masterbrand LockUp GREEN RGB.png | image = Croda Headquarters Cowick Hall-medium.jpg | image_size = 240px | image_caption = Headquarters of Croda International, Cowick Hall, lying midway between West and East Cowick | type = Public limited company | traded_as = {{lse|CRDA}} FTSE 100 Component | founders = George William Crowe Henry James Dawe | foundation = {{start date and age|1925}} | location = Snaith, England, UK | key_people = Danuta Gray (Chair)<ref name=board>{{cite web |url=https://www.croda.com/en-gb/about-us/who-we-are/our-board-of-directors |title=Board of Directors |publisher=Croda International |access-date=7 September 2025}}</ref> Steve Foots (CEO)<ref name=board/> | industry = Chemicals | products = Speciality Chemicals for: Personal Care Health Care Crop Care Lubricant Additives Coatings and Polymers Geo Technologies Polymer Additives Home Care Industrial Chemicals | revenue = {{increase}} £1,699.4 million (2025)<ref name=results>{{cite web |url=https://www.croda.com/mediaassets/files/corporate/full-year-2025/croda-full-year-2025-results-and-financial-framework-final.pdf?la=en-GB&hash=44B276C6FF874B8740B4556D3A3300B0 |title=Preliminary Results 2025 |publisher=Croda International |access-date=24 February 2026}}</ref> | operating_income = {{increase}} £295.3 million (2025)<ref name=results/> | net_income = {{decrease}} £64.7 million (2025)<ref name=results/> | num_employees = 6,100 (2026)<ref>{{cite web |url=https://www.croda.com/en-gb/about-us |title=About us |publisher=Croda International |access-date=27 January 2026}}</ref> | parent = | subsid = | homepage = {{URL|https://www.croda.com}} | slogan = | footnotes = }}

'''Croda International plc''' is a British speciality chemicals company based at Snaith, England. It is listed on the London Stock Exchange.

==History== The company was founded by George William Crowe and Henry James Dawe in 1925.<ref name="wsj 2019">{{cite web |first=Alan |last=Nicholl |date=31 July 2015 |title=WSJ Custom Studios Meeting Modern Business Challenges |url=https://www.slideshare.net/AlanNicholl1/wsjcustomstudiosmeetingmodernbizchallenges21715-51146729 |access-date=23 April 2019}}</ref> Crowe bought an abandoned waterworks facility at Rawcliffe Bridge for £7, which would later be used to manufacture the company's first barrels of lanolin, a natural protective fat present in sheep's wool. The company was named ''Croda (''a combination of the first few letters of his surname with that of his partner, Dawe).<ref name="wsj 2019" /><ref name = "official hist"/>

Crowe and Dawe began working on a process to extract lanolin from sheep’s wool for various industries, including uses in cosmetics, as a waterproofing agent, and as a dressing for leather. At the time, the UK imported lanolin, having no domestic lanolin production at all.<ref name="funduni">{{cite web |url=http://www.fundinguniverse.com/company-histories/croda-international-plc-history/ |title=History of Croda International Plc – FundingUniverse |website=fundinguniverse.com |access-date=23 April 2019}}</ref> Dawe's extraction process failed initially and Dawe left the company. Philip Wood, Crowe's nephew, was appointed manager of the site in 1925, and Wood worked closely with a Belgian chemist to develop a new extraction process. By the end of the year Croda had successfully produced its first batch of lanolin.<ref name="funduni" /><ref name = "official hist">{{cite web |url = https://www.croda.com/en-gb/about-us/our-heritage |title = Our Heritage |publisher = Croda International |access-date = 27 February 2025}}</ref>

The company struggled to remain profitable to the end of the decade until a report from the National Physical Laboratory was published describing the rust prevention properties of lanolin, which created new business opportunities for the company. The lanolin market was still in its infancy as the World Depression began to take hold in Britain, but Croda was able to expand their domestic market and exports through the 1930s as Wood refined Dawe's production process and gradually developed a wider range of product applications for lanolin.<ref name="funduni" /><ref name = "official hist"/>

During the Second World War, Croda participated in Britain's war economy; specifically, it was involved in the production of camouflage paints, gun lubricants and cleaning oils, insect repellents, and various other resources that were needed across the British Empire.<ref name="funduni" /><ref name = "official hist"/> It was in the aftermath of the Second World War that the firm turned to the cosmetics sector.<ref name = "official hist"/>

During 1949, Phlip Wood died; thereafter, the board decided to run the business by committee while Wood's son Fred Wood was appointed sales director. One year later, Fred relocated to New York to set up the company's US subsidiary, Croda Inc.<ref name="funduni" /><ref name = "official hist"/> In 1953, Fred returned to the UK and was appointed Croda's managing director at the age of 27.<ref>{{cite web |url=https://www.telegraph.co.uk/news/1425079/Sir-Frederick-Wood.html |title=Sir Frederick Wood |date=20 March 2003 |work=The Telegraph |access-date=20 September 2014}}</ref><ref>{{cite web |url=https://www.theguardian.com/news/2003/mar/24/guardianobituaries.conservatives |title=Sir Freddie Wood |work=The Guardian |first=Roger |last=Cowe |date=24 March 2003 |access-date=20 September 2014}}</ref> Under Fred Wood's management, Croda experienced a sustained period of rapid growth.<ref name = "official hist"/> During the 1950s, several major cosmetics companies started using its products; at the same time, the firm also began to expand internationally: it moved to its present location in 1956. During 1957, Croda Inc. acquired Hummel Chemical Company and began manufacturing in a new plant in Newark, New Jersey.<ref name="funduni" />

In 1964, the company was listed on the London Stock Exchange for the first time. Throughout the 1960s, it expanded rapidly; to this end, it acquired United Premier Oil in 1967 and British Glues & Chemicals in 1968.<ref name="funduni" /> During 1970, Croda acquired L&H Holdings and A B Fleming for ink and synthetic resin production and acquired Midland-Yorkshire Tar Distillers in 1975.<ref>{{cite web |url=https://www.blackcountryhistory.org/collections/getrecord/GB146_BS-MY/ |title=Black Country History |website=blackcountryhistory.org |access-date=16 June 2017}}</ref>

In 1990, it developed Lorenzo's oil, a product famously used to treat adrenoleukodystrophy.<ref>{{cite web |url=https://www.icis.com/explore/resources/news/1993/01/04/36675/croda-s-adl-oil-remedy-makes-it-to-the-movies/ |title=Croda's ADL oil remedy makes it to the movies |date=4 January 1993 |publisher=ICIS |access-date=1 March 2020}}</ref><ref>{{cite news |url=https://www.telegraph.co.uk/news/obituaries/2062622/Obituary-Lorenzo-Odone.html |title=Lorenzo Odone |date=1 June 2008 |periodical=The Telegraph}}</ref> In July 1997, Croda acquired the Paris-based STOA Group for $66 million.<ref>{{cite web |url = https://insights.citeline.com/RS004552/Croda-purchase-of-Sederma-for-66-mil-adds-skin-care-active-ingredients-to-mix/ |title = Croda purchase of Sederma for $66 mil. adds skin care "active" ingredients to mix |date = 1 September 1997 |website = citeline.com}}</ref><ref name = "official hist"/> One year later, the firm bought Westbrook Lanolin.<ref name="funduni"/>

During the early 21st century, the company concentrated on speciality chemicals. In November 2003, it signed a global distribution and collaboration agreement with the New Zealand-based wool biotechnology company Keratec.<ref>{{cite web |url = https://www.cosmeticsdesign.com/Article/2003/11/25/Croda-uses-wool-protein-Keratin/ |title = Croda uses wool protein Keratin |website = cosmeticsdesign.com |date = 25 November 2003}}</ref> During June 2006, Croda announced that it had reached a deal with ICI to acquire ICI's Uniqema for a total consideration of £410 million.<ref>{{cite web |url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/06/30/cnici30.xml |archive-url=https://web.archive.org/web/20061026164721/http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/06/30/cnici30.xml |url-status=dead |archive-date=26 October 2006 |title=ICI to slash debts with £410m Uniqema sale |work=The Telegraph |first=Cosima |last=Marriner |access-date=26 March 2015}}</ref> Three years later, Croda announced the closure of its Wilton facility as a result of the separate decision by Dow Chemical to close an adjoining facility that made it uneconomic to continue production.<ref>{{cite web |url = https://ww.fashionnetwork.com/news/Croda-to-shut-wilton-manufacturing-site,67594.html#prada |title = Croda to shut Wilton manufacturing site |website = fashionnetwork.com |date = 8 July 2009}}</ref><ref>{{cite web |url = https://www.placenorthwest.co.uk/plans-unveiled-for-redundant-chemical-works |title = Plans unveiled for redundant chemical works |website = placenorthwest.co.uk |date = 1 December 2011 |first = Barry |last = Turnbull}}</ref>

Throughout the 2010s, the firm continued to acquire other entities; speaking in 2016, Steve Foots, the then-CEO of Croda, openly stated that the firm had a wishlist of four large targets for acquisition that it would be prepared to pay in excess of £1 billion for.<ref>{{cite web |url = https://www.ft.com/content/9091e42e-67b2-11e6-a0b1-d87a9fea034f |title = Croda and Synthomer eye niche acquisitions |work = Financial Times |date = 22 August 2016 |first = Michael |last = Pooler}}</ref><ref>{{cite web |url = https://www.telegraph.co.uk/finance/financetopics/profiles/9219618/Steve-Foots-Crodas-man-with-the-chemistry-for-success.html |title = Steve Foots: Croda's man with the chemistry for success |publisher = The Telegraph |first = Jonathan |last = Sibun |date = 22 April 2012}}</ref> During February 2018, Croda announced that terms had been agreed to purchase the agricultural bioscience business Plant Impact for £10 million;<ref>{{cite web |url=https://www.insidermedia.com/insider/national/croda-and-plant-impact-agree-10m-deal |title=Croda and Plant Impact agree £10 million deal |publisher=Insider Media |first=Stephen |last=Farrell |date=16 February 2018 |access-date=3 March 2018}}</ref> that same year, it also acquired the adjuvant producer Brenntag Biosector from the Danish business Brenntag Nordic in exchange for £65 million,<ref>{{cite web |url = https://www.themanufacturer.com/articles/british-speciality-chemicals-firm-agree-65m-takeover-of-danish-pharma-business/ |title = British speciality chemicals firm agree £65m takeover of Danish pharma business |website = themanufacturer.com |date = 17 December 2018}}</ref> and launched a new range of wholly renewable and bio-based non-ionic surfactants.<ref>{{cite web |url = https://www.inkworldmagazine.com/contents/view_breaking-news/2018-11-05/croda-announces-new-100-bio-based-surfactants/ |title = Croda Announces New 100% Bio-Based Surfactants |website = inkworldmagazine.com |date = 11 May 2018}}</ref><ref>{{cite web |url = https://www.globalcosmeticsnews.com/croda-celebrates-expansion-of-manufacture-site/ |title = Croda celebrates expansion of manufacture site |website = globalcosmeticsnews.com |first = Louise |last = Prance-Miles |date = 17 December 2015}}</ref>

In November 2020, it was announced that Croda was in the process of purchasing Spanish home-products specialist Iberchem in exchange for €820 million; this move was intended to increase the company's sales of fragrance formulations in various markets including China and the Middle East.<ref>{{cite news |url=https://www.ft.com/content/9f0f9fbd-b1d9-404d-b67c-e0d137d554dc |title= UK chemicals group Croda to buy Iberchem for €820m |work=Financial Times |first=Harry |last=Dempsey |date=18 November 2020 |access-date=18 November 2020}}</ref><ref>{{cite news |url=https://www.yorkshirepost.co.uk/business/speciality-chemicals-firm-croda-acquires-spanish-firm-ps736m-deal-3039155 |work=yorkshirepost.co.uk |title=Speciality chemicals firm Croda acquires Spanish firm in £736m deal |first=Ismail |last=Mulla |date=18 November 2020 |access-date=18 November 2020}}</ref> One year later, it purchased a 93 per cent stake in Parfex, a French fragrance business, for €45 million.<ref>{{cite web |url = https://www.insidermedia.com/news/yorkshire/croda-acquires-fragrance-business-parfex |title = Croda acquires fragrance business Parfex |website = insidermedia.com |first = Laurence |last = Kilgannon |date = 7 April 2021 }}</ref> During March 2022, the firm was awarded a grant of £15.9 million with the aim of increasing Britain’s manufacturing capacity of specialty lipids;<ref>{{cite web |url = https://www.gov.uk/government/news/government-to-provide-shot-in-the-arm-for-west-midlands-vaccine-manufacturing-facility |title = Government to provide shot in the arm for West Midlands vaccine manufacturing facility |publisher = Department for Business, Energy & Industrial Strategy |date = 21 March 2022}}</ref> after which the firm announced that it would invest £31 million in the expansion of its vaccine manufacturing site in Leek.<ref>{{cite web |url = https://www.bbc.co.uk/news/uk-england-stoke-staffordshire-60947396 |title = Vaccine ingredient firm plans £31m expansion in Leek |publisher = BBC News |date = 31 March 2022}}</ref><ref>{{cite web |url = https://www.staffordshire-live.co.uk/news/health/staffordshire-factory-front-line-covid-6910156 |title = Staffordshire factory on front-line in covid fight set for major expansion |first1 = Phil |last1 = Corrigan |first2 = Samuel |last2 = Hodgkiss |date = 5 April 2022}}</ref> That same year, it completed the sale of the majority of its Performance Technologies and Industrial Chemicals (PTIC) division to raise £667 million.<ref>{{cite web |url = https://www.insidermedia.com/news/yorkshire/croda-international-completes-sale-of-ptic-businesses |title = Croda International completes sale of PTIC businesses |website = insidermedia.com |first = Stephen |last = Farrell |date = 1 July 2022}}</ref><ref>{{cite web |url = https://www.business-live.co.uk/manufacturing/cargill-completes-667m-buy-out-24371778 |title = Cargill completes £667m buy-out of Croda's performance technologies and industrial chemicals businesses |first = David |last = Laister |date = 1 July 2022}}</ref>

==Operations== The company's products include:<ref>{{cite web |url=https://www.croda.com/en-gb/products-and-markets |title=Products and markets |publisher=Croda International |access-date=27 February 2020}}</ref>

* Surfactants which are used as ingredients for cosmetic creams and lotions. * Dietary supplements containing speciality lipids, such as omega-3 oils. * Fatty acid amides which add "slip" to plastic surfaces, so plastic bags can be peeled apart easily.

These products are sold to other manufacturing companies. Croda has factories in the United Kingdom, France, Spain, Italy, the Netherlands, the United States, Brazil, Singapore, India, Indonesia, Korea, and Japan.

==References== {{reflist}}

==External links== * [https://www.croda.com Official site] * [https://www.cosmeticsdesign-europe.com/Suppliers/Croda-Europe-Ltd/ Croda Europe Ltd]

Category:Croda International Category:Chemical companies of the United Kingdom Category:British companies established in 1925 Category:Chemical companies established in 1925 Category:Companies listed on the London Stock Exchange Category:Companies based in the East Riding of Yorkshire Category:1925 establishments in England Category:Companies in the FTSE 100 Index