Evonik has acquired Novachem, an Argentinian cosmetic active ingredients manufacturer.
The business will be integrated into the German specialty chemicals company’s Care Solutions business line, which sits within its life sciences division.
Evonik said the acquisition aims to improve its active ingredients portfolio serving the beauty industry.
“By leveraging our complementary knowhow and access to markets in the Americas and worldwide, we will be a step closer to achieving our goal of becoming the preferred sustainable specialties partner,” said Yann d'Hervé, head of Evonik's Care Solutions business line.
Novachem was founded in 2007 and develops biotechnological, natural and sustainable active ingredients for skin and hair care applications.
The company has also specialised in creating eco-certified actives from live microorganisms.
“The acquisition of Novachem will enable us to bring even more innovative and sustainable solutions to our customers in the personal care market,” added Hendrik Schönfelder, regional president Central & South America Region at Evonik.
Evonik has made a string of acquisitions in recent years, including botanicals manufacturer Botanica and cosmetic delivery company Infinitec Activos in 2021.
It also purchased biotech company innoHealth in 2020, and Alkion Biopharma in 2016.
Last year the specialty chemicals company began manufacturing commercial quantities of ceramides at its factory in Dossenheim, Germany.
Evonik said utilising the site’s full capabilities will provide further flexibility and supply security, including independence from alternative supply routes.
The increased production of the special class of lipids also aims to cater to the growing demand for ceramides in the personal care market.