UK's Deb Group to acquire Evonik's Stoko skin care

Evonik Industries has signed an agreement to sell its global line of skin-care products for professionals, a business that the company bundles under the brand name Stoko Professional Skin Care, to the UK-based Deb Group, a global leader on the market for skin-care systems used in occupational and public settings. The contracting parties agreed not to disclose the purchase price. The transaction closing is anticipated in two months, pending approval by the Evonik Supervisory Board and by the German antitrust authorities.
 
“We continue to direct our portfolio toward high-margin specialty chemicals businesses. While Stoko Professional Skin Care enjoys an excellent reputation on the market, its business model fundamentally differs from that of Evonik today. As such, we have decided on a buyer that can best realise the growth potential of the business. We believe that Deb will be a good home for Stoko and its people,” said Patrik Wohlhauser, a member of the Evonik Executive Board.
 
For the Deb Group, the acquisition is part of a clear growth strategy aimed at continuing to strengthen the company’s position as a global leader on the skin care market. The Stoko purchase particularly stands to benefit the Deb Group by strengthening its market position in Europe and the US. In addition, with the help of Stoko, Deb plans to increasingly expand into the new markets of Russia and Brazil. Stoko’s strengths in product quality, service, and innovation are the perfect complement to the Deb Group’s sales channels and broad product portfolio. Its innovative business also makes the Stoko brand a powerful addition to the Deb Group lineup.