Evonik has concluded a purchase agreement to take over French start-up Alkion BioPharma. Terms of the deal were not disclosed, but the purchase is expected to complete this month.
Alkion’s strength lies in sustainably developed plant-based ingredients for cosmetics and the acquisition will extend Evonik’s personal care portfolio in the specialty actives field, while Alkion is set to benefit from Evonik’s marketing heft, raising awareness of its specialized extraction technology.
“Thanks to its formulation and application expertise, Evonik enjoys an excellent reputation in the cosmetics industry. We are resolutely continuing along this path with the acquisition of Alkion,” said Dr. Tammo Boinowitz, Head of the Personal Care Business Line at Evonik. “This allows us to offer customers product concepts to set themselves apart from competitors.”
By Georgina Caldwell
Source: Global Cosmetic News
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