Evonik has announced the acquisition of Hamburg-based Dr Straetmans, a specialist in alternative preservative systems for cosmetic products. Terms of the deal were not disclosed, but the transaction is expected to complete in the first half of the year.
The move will complement Evonik’s cosmetics unit’s broad specialties portfolio and further consolidate its position as a leading global partner for the beauty industry.
“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 US,” said Hans-Josef Ritzert, Member of the Management Board, Evonik Nutrition & Care.
Dr Straetmans will continue to operate as a legal entity, with its Hamburg site converted into 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 up Evonik’s Personal Care Business Line. “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.”