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Germany/UK: Evonik sells off skincare line

 |  March 20, 2014

Germany-based chemicals company Evonik Industry announced Thursday it will divest its skincare operations to a UK firm.

According to reports, Stoko Professional Skin Care will be bought by UK’s Deb Group, also a skincare company. In a statement, the German firm said that its skincare business does not fully align with Evonik and what the company has evolved to be today.

The deal, which remains subject to German regulatory approval, is set to clear within two months, the companies expect. The firms did not disclose the financial details of the merger.

Full Content: Wall Street Journal

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