Evonik has acquired Novachem, an Argentinian developer of cosmetic active ingredients based in Buenos Aires.
Novachem, established in 2007 and employer of 20, develops biotechnological, natural, and sustainable active ingredients for skin and hair care applications.
The German chemicals giant said by leveraging Novachem’s innovation strategy, accessibility to biodiversity and strong skin and hair care portfolio, Evonik will boost its Systems Solutions portfolio in the Americas.
“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,” said Hendrik Schönfelder, regional president Central & South America Region at Evonik.
Evonik’s Care Solutions business line has been heavily active in acquisitions in recent years.
Other recent transactions include sustainable botanicals pioneer Botanica (2021), cosmetic delivery company Infinitec Activos (2021), biotech company innoHealth (2020), Wilshire Technologies (2020) and ALKION Biopharma (2016).
“We are excited to welcome Novachem to our Evonik family. 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.
