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Germany/UK: Evonik sells off skincare line

By  |  March 20, 2014

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

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    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.

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    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.

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