Evonik has concluded a purchase agreement to acquire Wilshire Technologies, with the transaction to be completed by the end of January. 

Headquartered in Princeton NJ (USA), Wilshire Technologies supplies phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The new home for the cosmetics part of Wilshire’s product portfolio will be in Evonik’s Care Solutions business line.

Wilshire Technologies supplies bespoke natural products and synthesized materials for the production of cosmetic active ingredients whereas Evonik’s Care Solutions business increases its focus on sustainability as a key driver for portfolio transformation.

This acquisition, which comprises approximately 10 employees, and marks a substantial addition to Evonik’s sustainable cosmetic active ingredients portfolio. Evonik’s Care Solutions business will be able to expand its product range into phytochemicals, such as plant derived cholesterol, as a replacement for animal originated ingredients in cosmetic active ingredients. This move supports the ongoing transformation of Evonik’s cosmetics ingredients portfolio towards sustainability and natural-based ingredients.

"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," said Dr. Tammo Boinowitz, head of the Care Solutions business line at Evonik. 

"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,” added Boinowitz.

Joe San Filippo, CEO and founder of Wilshire Technologies said, "He believes that Wilshire’s expertise, innovative portfolio and technologies will provide outstanding opportunities for intensifying Evonik’s competences in the fields of phytochemical ingredients and intermediates for the continuously developing cosmetic and health care industries."