Evonik, the German specialty chemicals company, has acquired phytochemical company Wilshire Technologies.
Wilshire supplies natural actives and derivatives to the global cosmetics and pharmaceutical industries.
The takeover is said to support the ongoing transformation of Evonik’s cosmetics ingredients portfolio and allows it to expand into phytochemicals such as plant-derived cholesterol, which can be used as a non-animal origin alternative in cosmetic active ingredients.
Dr. Tammo Boinowitz, head of the Care Solutions business line at Evonik, said: “With Wilshire’s unique products which replace animal origin ingredients and intermediates, we are moving another step forward with our development of a more diverse portfolio of sustainable active ingredients.
“This latest acquisition allows us to continue our efforts in fortifying the flexibility of our products and technology platforms, while providing our customers with the bio-based products their markets demand.”
The acquisition includes approximately 10 employees; the new home for Wilshire’s cosmetics arm will be Evonik’s Care Solutions business line.