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#8 Evonik acquires New Jersey phytochemical producer

In New Jersey, German chemical giant Evonik has acquired Wilshire Technologies, a producer of phytochemicals and derivatives for the cosmetics and pharmaceutical industries, for an undisclosed sum. Wilshire’s product lines, which are renewable and free from animal origin, will be absorbed into Evonik’s Care Solutions and Health Care businesses.

“Utilizing more sustainable and renewable sources for cosmetic ingredients has become an extremely important criteria that many personal care companies in the market today are aiming for,” Evonik says. “This acquisition, which comprises approximately 10 employees… 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.”

Wilshire Technologies was founded in 1997 by Joe San Filippo.
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