- Complementary business with strong innovation capacity and high quality product portfolios
- Excellent position with professional skin-care products
Evonik Industries is selling its global line of skin-care products for professionals, a business that the company bundles under the brand name Stoko® Professional Skin Care. The purchase agreement was signed on March 19, 2014 with the buyer, the Deb Group of Denby, Great Britain, a global leader on the market for skin-care systems used in occupational and public settings. The contracting parties agreed not to disclose the purchase price. The transaction closing is anticipated in two months, pending approval by the Evonik Supervisory Board and by the German antitrust authorities.
"We continue to direct our portfolio toward high-margin specialty chemicals businesses. While Stoko Professional Skin Care enjoys an excellent reputation on the market, its business model fundamentally differs from that of Evonik today. As such, we have decided on a buyer that can best realize the growth potential of the business. We believe that Deb will be a good home for Stoko and its people," said Patrik Wohlhauser, a member of the Evonik Executive Board.
For the Deb Group, the acquisition is part of a clear growth strategy aimed at continuing to strengthen the company’s position as a global leader on the skin-care market. The Stoko purchase particularly stands to benefit the Deb Group by strengthening its market position in Europe and the United States. In addition, with the help of Stoko, Deb plans to increasingly expand into the new markets of Russia and Brazil. Stoko’s strengths in product quality, service, and innovation are the perfect complement to the Deb Group’s sales channels and broad product portfolio. Its innovative business also makes the Stoko brand a powerful addition to the Deb Group lineup.
"It has been a longstanding ambition of Deb’s to join forces with Stoko. We want to create the world’s most comprehensive and effective skincare product range for the workplace drawing on the significant innovation portfolio within both companies. This, in concert with vital information provided by Deb’s unique compliance monitoring technology, will fundamentally alter and improve standards of skincare behavior," said Bryan Anderson, CEO of Deb.
Stoko develops, produces, and markets products for professional skin protection, as well as cleansing, care, and disinfection. The company’s production sites are in Germany (Krefeld), the US (Greensboro), and Russia (Podolsk).
About Deb Group
For over 70 years, the Deb Group has been establishing skin care regimes for all types of workplace and public environments, spanning industrial, commercial, healthcare and food sectors.
With its Global Headquarters in Denby, Derbyshire, Deb comprises 21 companies operating in 16 countries, with Deb products sold in over 100 countries. An estimated 40 million people use Deb’s products every day.
Drawing on deep technical expertise and extensive field sales support, Deb provides employers with innovative skin care programs that maximize employee participation through carefully devised, reliable skin care systems, supported by quality products that are both pleasant-to-use and cost effective.
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. In fiscal 2013 more than 33,500 employees generated sales of around €12.9 billion and an operating profit (adjusted EBITDA) of about €2.0 billion.
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.