10.28.21
Specialty chemicals company Evonik has inked a purchase agreement to acquire the Swiss plant extract producer Botanica.
Company officials say the closing is expected in November 2021.
“Finding a strong partner with a trusted sustainability record can be challenging,” said Andreas Wälti, managing director of Botanica. “With Evonik, we feel confident that Botanica can continue to operate according to our philosophy, while bringing our high-quality plant extracts to a wider customer base.”
With its presence in three European countries – Switzerland, France and Germany – Botanica, a European leader in sustainable botanical extracts for the personal care industry, will be integrated into the Care Solutions business line within Evonik’s life sciences division, Nutrition & Care.
Botanica employs 43 people and was founded by the Wälti family in 1998. With a portfolio of over 1,000 different plants available for extraction, Botanica offers customers expertise and power for innovation for their cosmetic formulations. The plant extracts are used for cosmetic formulations and are certified according to Swiss organic produce regulation and CSE sustainability standard.
Company officials say the acquisition of Botanica is the next “logical step” for the Care Solutions business line as it transforms into a leading actives partner for the personal care industry. By leveraging the synergies between the powerhouse technology platforms, Evonik plans to enhance its product portfolio, open new markets, accelerate growth and create significant value.
“Botanica’s outstanding track record in customization, in sustainable sourcing and production aligns perfectly with our goals to become the sustainable specialties partner,” says Yann d'Hervé, head of Evonik's Care Solutions business line.
Evonik will lead the active ingredient market, of which roughly 40-50% comprise botanicals. Botanica’s customizable extracts will boost the portfolio of unique system solutions offered by the Care Solutions business line. The Nutrition & Care division aims to increase its share of system solutions from 20 percent today to more than 50 percent by 2030.
The sustainable and fair-trade practices underlying Botanica’s philosophy are renowned worldwide. The ethical profile parallels the strategy of Nutrition & Care, which has made sustainability its guiding business principle.
Some of Evonik's other recent acquisitions include the cosmetic delivery systems company Infinitec Activos in 2021; the biotech company innoHealth in 2020; Wilshire Technologies in 2020; and Alkion Biopharma in 2016.