THE WHAT? Evonik has announced the acquisition of Novachem. The Buenos Aires-based sustainable cosmetic actives producer will strengthen the German ingredients supplier’s System Solutions portfolio in the Americas and beyond.

THE DETAILS The transaction is subject to approval by regulatory bodies but, assuming it gets the greenlight, Novachem will be integrated into Evonik’s Care Solutions unit within the Nutrition & Care division.

“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.

THE WHY? Evonik is aiming to become a leading actives provider and Novachem’s strong skin and hair portfolio, accessibility to biodiversity and innovation strategy will bring it one step closer to its goal.