Evonik, a German specialty chemicals company, acquired the American phytochemical company Wilshire Technologies.
Wilshire Technologies has developed robust technology that obtains products based on renewable and non-animal sources, an important criterion that many pharmaceutical and personal care companies in today’s global marketplace.
This acquisition, which includes approximately 10 employees, represents a substantial addition to Evonik’s sustainable portfolio of cosmetic active ingredients. Evonik’s Care Solutions business then expands its product range in phytochemicals, such as plant-derived cholesterol, to replace animal ingredients in cosmetic active ingredients.
Dr. Tammo Boinowitz, head of the Care Solutions business line at Evonik, said: “With Wilshire’s unique products which replace animal origin ingredients and intermediates, we are moving another step forward with our development of a more diverse portfolio of sustainable active ingredients.
“This latest acquisition allows us to continue our efforts in fortifying the flexibility of our products and technology platforms, while providing our customers with the bio-based products their markets demand.”
Wilshire’s new cosmetics arm home will be Evonik’s Care Solutions business line.