The move allows Evonik to complement the broad specialties portfolio of its cosmetics business and to further consolidate its position as a leading global partner for the cosmetics industry. The transaction is subject to approval by the relevant antitrust authorities. It is expected to be finalized in the first half of 2017. The contracting parties have agreed not to disclose the purchase price amount at press time.
“Dr. Straetmans is a perfect match, both strategically and culturally, for us. We intend to develop the company’s business globally beyond its existing markets in Europe and the United States,” said Hans-Josef Ritzert, member of the Management Board of Evonik Nutrition & Care GmbH.
Dr. Straetmans, which employs over 60 people, will continue to operate as a legal entity. The company’s Hamburg site will become Evonik’s global competence center for preservative solutions.
“Our aim is to offer cosmetics manufacturers new solutions enabling them to distinguish themselves from the competition,” said Tammo Boinowitz, who heads the Personal Care Business Line at Evonik. “In the future, we will be able to offer complete formulation systems, including preservation. In doing so, we make an important contribution to optimizing our customers’ development work.”