In the future, we will be able to offer complete formulation systems, including preservation.
Evonik, the German specialty chemicals company, has acquired Dr. Straetmans, the raw materials supplier.
Evonik confirmed with Cosmetics Business that the deal was in the upper two-digit million euro range, while Reuters reported a figure "just under" €100m.
The takeover, due to close in H1 2017, is said to allow Evonik to complement the broad specialties portfolio of its cosmetics business and provide customers with complete formulation solutions.
A perfect match
Hans-Josef Ritzert, a member of the Management Board of Evonik Nutrition & Care, said: “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.”
Dr. Straetmans is headquartered in Hamburg, Germany, and the site will become Evonik’s global competence centre for preservative solutions.
Dr. Straetmans, which specialises in alternative preservative systems, says it will be able to provide its customers with “even better support” for developing complete formulations, thanks to Evonik’s emulsifier expertise.
Tammo Boinowitz, who heads the Personal Care Business Line at Evonik, explained: “In the future, we will be able to offer complete formulation systems, including preservation.
“In doing so, we make an important contribution to optimising our customers’ development work.”
Stable solutions
Our competencies in areas such as application and formulation allow us to maintain a stable emulsion.
The use of alternative systems remains complex, explained Jan Jänichen, Managing Director of Dr. Straetmans.
“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.”
Evonik continues to push ahead in the specialty chemicals industry. In February, it acquired Air Products signaling a move into the lucrative hair styling market.
Evonik generated sales of approximately €12.7bn in fiscal 2016; it is now active in more than 100 countries with over 35,000 employees.