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Arkema (Euronext: AKE) has announced its proposed acquisition of Permoseal, a leading adhesive solutions provider in South Africa, with an estimated sales of €44 million in 2021. This acquisition aims to enhance Bostik’s product offerings in the DIY adhesives sector and support expansion in South Africa's construction market. The deal, valued at a strategic level, is expected to generate synergies and strengthen Arkema's position in packaging adhesives. The acquisition is pending antitrust approval and is anticipated to finalize in Q2 2022.
Positive
Enhances Bostik's position in South African DIY adhesives sector.
Estimated sales of Permoseal at €44 million in 2021.
Broadens customer offerings in South African construction market.
Potential for synergies and sustainable solutions in packaging adhesives.
Arkema (Paris:AKE) announces the proposed acquisition of Permoseal in South Africa, one of the leaders in adhesive solutions for woodworking, packaging, construction and DIY. Its well-known brands, including Alcolin®, and its extensive range of high-performance adhesive solutions will complement Bostik’s offering in the region, strengthening their positions in South Africa’s and Sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
Permoseal offers a large portfolio of technical and sustainable solutions for packaging, as well as for wall and floor preparation, renovation and waterproofing. Leveraging its well-known brands, Permoseal has a strong presence in South Africa’s retail chains, and is the exclusive distributor of the Bostik® and
Evo-Stik® brands in the region. The company, with sales estimated at €44 million in 2021, operates two production plants in the country.
With this proposed acquisition, Bostik will significantly strengthen its presence in South Africa in the DIY adhesives sector, in which the Bostik® and Den Braven® brands are already well established. The complementarity of product portfolios will allow Bostik to broaden its customer offering in the South African construction market, and continue its expansion in the region, benefiting in particular from strongly growing demand in the building renovation market. The project will also enable Bostik to consolidate its position in packaging adhesives, and expand its offering of sustainable solutions for the industrial sector in the South African market.
This bolt-on acquisition is in line with the strategy to grow the Group’s Adhesive Solutions segment and offers many development synergies. This project, which is subject to approval by antitrust authorities, should be finalized in second-quarter 2022.
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive solutions, Advanced Materials, and Coating Solutions- accounting for some 82% of Group sales in 2020, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €8 billion in 2020, and operates in some 55 countries with 20,600 employees worldwide.
A French société anonyme (limited company) with share capital of €767,364,760 – Registered in Nanterre: RCS 445 074 685 Nanterre
Arkema
420 rue d’Estienne d’Orves
92705 Colombes Cedex
France P +33 (0)1 49 00 80 80
arkema.com
