Evonik buys German cosmetic ingredients maker Dr Straetmans

Specialty chemicals major Evonik has agreed to acquire Hamburg (Germany) based Dr Straetmans GmbH, which specialises in developing and marketing alternative preservatives for the cosmetic industry, for an undisclosed amount. 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 finalised in the first half of 2017. 

“Dr Straetmans is a perfect match, both strategically and culturally, for us. We intend to develop the company’s business