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Evonik buys cosmetic ingredients maker Dr. Straetmans -sources
March 13, 2017 / 8:58 AM / 6 months ago

Evonik buys cosmetic ingredients maker Dr. Straetmans -sources

DUESSELDORF, Germany, March 13 (Reuters) - German chemicals maker Evonik will buy Hamburg-based Dr. Straetmans GmbH, a maker of cosmetic ingredients, for just under 100 million euros ($107 million), people familiar with the matter told Reuters on Monday.

The new business will help Evonik expand its own activities in preservatives for cosmetics, and the buyer plans to keep Dr. Straetmans’ Hamburg headquarters, the sources said.

Evonik declined to comment while officials at Dr. Straetmans were not immediately available for comment. ($1 = 0.9366 euros) (Writing by Ludwig Burger; Editing by Georgina Prodhan)

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