Evonik acquires Argentine firm
Subject only to official approval, Evonik has acquired Novachem, a maker of biotechnological, natural and sustainable actives for skin and hair care applications based in Buenos Aires. Novachem will be integrated into the Care Solutions business line within the Nutrition & Care division.
“By leveraging Novachem’s innovation strategy, accessibility to biodiversity, and strong skin and hair care portfolio, Evonik will boost its Systems Solutions portfolio,” the firm said. The division aims to increase its share of ‘system solutions’, multi-component offerings across products, technologies and services that are tailored to a unique customer need and often have proven sustainability benefits, from 20% today to more than 50% by 2030.
This deals follows on from the acquisitions of Wilshire Technologies and biotech company InnoHealth in 2020, and sustainable botanicals pioneer Botanica and cosmetic delivery company Infinitec Activos in 2021. Evonik said that it is “leveraging the synergies between these strong and complementary technology platforms” to enhance its product portfolio, open new markets and boost growth.
Separately but in the same field, Evonik and Chinese skin care firm Guangdong Marubi Biotechnology have entered into a cooperation agreement. This, it said, will enable them to benefit from each other’s complementary capabilities in raw materials, R&D and production, while also exchanging information on topics including ingredient application and development, formulation and market trends.
Evonik and Marubi have been working together for nearly two decades. Over 20 products from Evonik, including a sustainable portfolio produced from natural sources and green chemistry processes, have featured in Marubi’s products in that time.