Evonik acquires Novachem unveiling personal care business strategy
04 Jul 2023 --- Chemical supplier Evonik has acquired Argentinian sustainable cosmetic actives innovator Novachem. The move is described as the “next logical step for the Care Solutions business line” as it aims to be the sustainable specialties partner for the personal care industry.
Since Novachem specializes in biotechnology, natural and sustainable cosmetic active ingredients with scientifically proven claims, the company is expected to boost Evonik’s portfolio of System Solutions. The acquisition will also add to the portfolio of actives in Care Solutions.
“We are excited to welcome Novachem to Evonik. By leveraging our complementary know-how 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,” says Yann d’Hervé, head of Evonik’s care solutions business line.
The signing and closing took place on 30 June 2023, subject to official approval by the authorities, shares Evonik.
Leveraging actives and technologies
The signing and closing took place on 30 June 2023 (Image Credit: Evonik).Novachem is based in Buenos Aires, Argentina, and offers an innovative portfolio of eco-friendly cosmetic active ingredients for skin and hair care.
“Latin America is one of the most biodiverse regions in the world. The acquisition of Novachem will enable us to bring even more innovative and sustainable solutions to our customers in the personal care market,” shares Hendrik Schönfelder, regional president Central & South America Region at Evonik.
The company applies science and technology to create eco-certified actives from live microorganisms. Evonik will integrate Novachem into its Care Solutions business line within the life sciences division Nutrition & Care.
Evonik’s recent acquisitions include the sustainable botanicals pioneer Botanica (2021), the cosmetic delivery company Infinitec Activos (2021), the biotech company innoHealth (2020), Wilshire Technologies (2020) and Alkion Biopharma (2016).
Evonik in spotlight
In related news, Evonik debuted a series of natural, climate-friendly solutions and processes for the local Chinese market. The company also joined forces with Intercos supplying active ingredients, emulsifiers and cosmetic oils through a direct sales channel to Intercos China.
Beiersdorf and WWF strengthened their partnership by aiding the conservation of natural forests on the island of Borneo until 2026. Evonik, Beiersdorf’s palm (kernel) oil derivatives supplier, joined the project early this year.
Furthermore, in light of growing awareness about high levels of micropollutants in the environment, Intrapore joined Evonik to expand the reach of its remediation technologies, designed to remove traces of toxic PFAS in soil and groundwater.
Edited by Venya Patel
