Corporate | 13 March 2017 11:00
Evonik Industries AG: Evonik acquires specialist in alternative preservation systems for cosmetic products from Hamburg, Germany
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DGAP-News: Evonik Industries AG / Key word(s): Acquisition
Evonik acquires specialist in alternative preservation systems for cosmetic products from Hamburg, Germany – Evonik continues to expand its position as one of the leading partners to the cosmetics industry – Acquisition allows offering complete formulation solutions – Hamburg site to become a global competence center for preservative solutions Essen/Hamburg, Germany. Evonik will acquire cosmetics specialist Dr. Straetmans GmbH of Hamburg, Germany. The company specializes in developing and marketing alternative preservatives for the cosmetic industry. 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. “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.
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,” 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.
Established in 1984, Dr. Straetmans was a pioneer of alternative preservative systems. The difference between these and conventional preservatives is, among others, that the functions they perform in the final product go beyond preservation, for example, by acting as an additional moisturizer. At the same time, it is becoming more and more important for cosmetics manufacturers to formulate their products sustainably. In doing so, customer demands as well as regulatory requirements must be taken into account.
The use of alternative preservative systems is complex, however. “The reason for this is that we’re introducing larger amounts of surface active ingredients into the formulation. Our competencies in areas such as application and formulation allow us to maintain a stable emulsion,” explains Jan Jänichen, the managing director of Dr. Straetmans. Wilfried Petersen, also managing director of Dr. Straetmans, adds: “In combination with Evonik’s emulsifier expertise, we can provide our customers with even better support for developing formulations.” In addition to its alternative preservative systems, Dr. Straetmans also offers selected conventional preservatives. The decades-long experience of both sides and the comprehensive product range mean that the companies can in future offer customers formulation concepts for sustainable use.
Company information
Evonik is active in over 100 countries around the world with more than 35,000 employees. In fiscal 2016 the enterprise generated sales of around EUR12,7 billion and an operating profit (adjusted EBITDA) of about EUR2.165 billion.
About Evonik Nutrition & Care
Disclaimer
Contact: Tim Lange Head of Investor Relations Phone +49 201 177-3150 tim.lange@evonik.com
Evonik Industries AG
Supervisory Board
Registered Office is Essen
13.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | Evonik Industries AG |
| Rellinghauser Straße 1-11 | |
| 45128 Essen | |
| Germany | |
| Phone: | +49 (0) 201 177-01 |
| Fax: | +49 (0) 201 177-3475 |
| E-mail: | investor-relations@evonik.com |
| Internet: | www.evonik.com |
| ISIN: | DE000EVNK013, XS0911405784 |
| WKN: | EVNK01, A1TM7T |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxemburg |
| End of News | DGAP News Service |