Ingredients company will continue to operate as an autonomous legal entity based out of Hamburg, Germany
Dr. Straetmans has officially joined Evonik’s portfolio, remaining in Hamburg and operating as an autonomous legal entity.
The ingredients company said that it expects its site will be developed further in the Evonik Group into a competence centre for preservation and product protection.
Dr Jan Jänichen and Dr Wilifried Peterson, both MDs of Evonik Dr. Straetmans, wrote in a letter to business partners: “With the closing of the transaction, the integration of our two companies is now well underway.
“The goal is to structure the existing competencies and products at Evonik and Dr. Straetmans in a meaningful way.”
Acknowledging the motive behind the acquisition, Jänichen and Peterson added: “Dr. Straetmans made this decision so that the company’s global growth will be supported by a multinational corporation.
“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.”