Evonik has announced the acquisition of Dr. Straetmans, a German company specializing in alternative preservation systems and selected conventional preservatives for the cosmetics industry. The move allows Evonik to complement its cosmetic specialties portfolio and to offer complete formulation solutions.
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 centre for preservative solutions. “Our aim is to offer cosmetics manufacturers new solutions enabling them to distinguish themselves from the competition,” says 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.”
“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,” says Hans-Josef Ritzert, member of the Management Board of Evonik Nutrition & Care GmbH.
The transaction is subject to approval by the relevant antitrust authorities. It is expected to be finalized in the first half of 2017. The amount was not disclosed.