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. In doing so, we make an important contribution to optimizing our customers’ development work.”
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.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. 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 €12.7 billion and an operating profit (adjusted EBITDA) of about €2,165 billion.
About Evonik Nutrition & Care
The Nutrition & Care segment is led by Evonik Nutrition & Care GmbH and contributes to fulfilling essential human needs. That includes applications for everyday consumer goods as well as animal nutrition and health care. This segment employed about 7,500 employees, and generated sales of around €4.3 billion in 2016.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.