Evonik, a leading chemicals maker and major German company, has taken over the smaller player’s activities, which are now incorporated into the Nutrition & Care segment of Evonik Industries AG, following the antitrust authorities’ approval on 10 May.
With the closing of the transaction, the two companies describe their integration as now well underway, with their goal to structure the existing competencies of both together in a ‘meaningful way’.
According to Reuters, the move follows a similar one by Evonik last year, when the chemicals company agreed to acquire the specialty and coating additives operations of U.S. industrial gas producer Air Products and Chemicals for $3.8 billion, also to boost Evonik's cosmetics ingredients business.
As a part of Evonik, Dr Straetmans GmbH will remain at the site in Hamburg as an autonomous legal entity, and it is expected that the facility will be developed in the period ahead to become a competence centre for preservation and product protection.
Dr Straetmans on Evonik
Dr Straetmans said in a statement to partners on the takeover that it made the decision to support its international growth.
“Dr. Straetmans GmbH made this decision so that the company’s global growth will be supported by a multinational corporation,” confirm managing directors of Evonik Dr Straetmans GmbH, Dr. Jan Janichen and Dr Wilfried Petersen.
“Evonik’s Personal Care Business Line is one of the leading providers of raw materials for the cosmetics industry worldwide and plans to build on this position through targeted acquisitions, among other things.
“Like Dr. Straetmans, Evonik sees itself as a solutions provider that adds value for its customers and helps them stand out in the competition. Together, through our complementary expertise and product portfolio, we will be able to offer you even more comprehensive support in the future.”