Evonik acquired Wilshire Technologies, a New Jersey-based supplier of bespoke natural products and synthesized materials for the production of cosmetic active ingredients.
WHO: Wilshire Technologies was founded in 1997 by former Rutgers professor Joe San Filippo, who has over 35 years of product development experience in this field. Headquartered in Princeton, NJ, the company supplies phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The company’s broad portfolio provides cosmetic and pharma actives that come from natural and renewable sources.
Evonik is one of the world leaders in specialty chemicals. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.
WHY: This acquisition is a substantial addition to Evonik’s sustainable cosmetic active ingredients portfolio. This move supports the ongoing transformation of Evonik’s cosmetics ingredients portfolio towards sustainability and natural-based ingredients.
IN THEIR OWN WORDS: "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,” said Boinowitz."We are looking forward to expanding the presence of our products across these global industries," said Joe San Filippo, CEO and founder of Wilshire Technologies Inc. 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.
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