Ashland Buys Schulke & Mayr’s Personal Care Business

21.01.2021 - Ashland Holdings has agreed to acquire the personal care business of Germany’s Schülke & Mayr for €262.5 million in an all-cash transaction. Schülke & Mayr was bought by investment group EQT from Air Liquide in August 2019 in an earn-out deal that was worth up to €1 billion.

With the divestment, Schülke & Mayr said it completes its strategic repositioning to a pure play healthcare company. Going forward, the Norderstedt-based company will focus and invest to accelerate growth in its core business of infection prevention and hygiene solutions.

For Ashland, the acquisition is consistent with its strategic position as a premier specialty additives supplier and also strengthens the company’s consumer business portfolio.  Specifically, the deal enhances the US group’s specialty additives position in personal care, expands its technical competences in biotechnology and microbiology and also advances its environmental, social and governance agenda for both personal care and household applications.

“This acquisition further aligns our portfolio with the ‘clean beauty’ trend in the personal care industry and helps us solve for a new generation of consumers who are shifting to products with milder and safer ingredients,” said Guillermo Novo, Ashland’s chairman and CEO. “Our combined biotechnology competencies further strengthen our ability to create new sustainable solutions in broader fields of application.”

The transaction, which remains subject to the usual closing conditions and regulatory approvals, is expected to be finalized before the end of June 2021.

Author: Elaine Burridge, Freelance Journalist