BRAIN Biotech AG sells subsidiary L.A. Schmitt to a URI group company

26 September 2022, Zwingenberg (Germany) - BRAIN Biotech AG has announced the sale of its subsidiary L.A. Schmitt GmbH, Ludwigsstadt, to a company of the URI group, Seoul, Korea. The transaction has closed on September 26, 2022. L.A. Schmitt was founded in 1925 as a producer and contract manufacturer of cosmetics and wellness products. The company has been part of the BRAIN Group since 2009. Both parties have agreed on confidentiality about the transaction term details.