With the successful completion of the sale of the superabsorbents business to the International Chemical Investors Group (ICIG), Evonik has finalized the sale of the Superabsorbents Business Unit. The transaction was closed on August 31, 2024, following approval by the antitrust authorities. Superabsorbents are powdered polymers that are used as highly absorbent materials in diapers and other hygiene products.

The division generated sales of €892 million in 2023 and employs around 1,000 people. The business comprises three sites in Germany and two in the USA. The unit is the second of a total of three activities in the Performance Materials Business Unit that Evonik has put up for sale. Following the disposal of the Lülsdorf site and the associated businesses, which were also taken over by ICIG, and the sale of the superabsorbents business, the former Performance Intermediates Business Unit remains. Here, the specialty chemicals company is sounding out the market situation for a possible start to the sales process.

Proceeds from the sale to support investments in green transformation of Evonik

"We want to clearly focus our portfolio on high-margin businesses with low fluctuations that drive the green transformation of the economy," says Christian Kullmann, Chairman of the Executive Board of Evonik. "We are consistently pursuing this path without losing sight of the well-being of the employees."

ICIG focuses on acquisitions for further growth

Headquartered in Frankfurt, Germany, ICIG is an experienced chemical investor. Including its superabsorbent activities, the group currently generates annual sales of well over four billion euros at around 50 locations worldwide with more than 7,800 employees. "We are pleased to now include superabsorbents as a new platform in ICIG and warmly welcome all employees," says Dr. Achim Riemann, Chairman of the Supervisory Board of ICIG. "The acquisition is part of our expansion course, which we will continue to pursue through internal and external growth."