Leading occupational skincare provider, Deb Group, has reached an agreement (19 March) to acquire the Stoko Professional Skin Care business from owner Evonik Industries. The purchase price was not disclosed.
‘Stoko has for over 70 years sought to combat skin disease in the workplace and has unparalleled expertise and knowledge in this field, supported by world class skincare products,’ stated the media release.
‘The businesses have highly complementary customers, product and geographic. The addition of Stoko will allow Deb to accelerate a key element of its commercial strategy, to become a global leader in the prevention of occupational skin disease.’
“It has been a longstanding ambition of Deb’s to join forces with Stoko,” revealed Bryan Anderson, Deb’s CEO. “We want to create the world’s most comprehensive and effective skincare product range for the workplace drawing on the significant innovation portfolio within both companies.
“This, in concert with vital information provided by Deb’s unique compliance monitoring technology, will fundamentally alter and improve standards of skincare behaviour.”
Evonik executive board member Patrik Wohlhauser said: “Evonik continues to direct its portfolio toward high-margin specialty chemicals businesses. While Stoko Professional Skin Care enjoys an excellent reputation on the market, its business model 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.”
With its global headquarters in Denby, Derbyshire, Deb comprises 21 companies operating in 16 countries, with Deb products sold in more than 100 countries. An estimated 40 million people use Deb’s products every day.