Archroma Completes BASF Textiles Acquisition
Archroma recently announced it has closed its acquisition of BASF’s global textile chemicals business. The acquisition reportedly further solidifies Archroma’s position as a leading supplier of chemicals and dyes. Archroma is a portfolio company of U.S.-based private investment firm SK Capital Partners.
“The textile industry is undergoing transformational change resulting from macro supply and demand shifts, as well as a growing customer demand for sustainably oriented solutions,” said Alexander Wessels, CEO, Archroma. “The operational and intellectual synergies between BASF and Archroma will allow us to offer our customers the full breadth and depth of innovation, quality, reliability, expertise, and market coverage they need to prosper in these market conditions.”
About 225 employees will reportedly be affected by the transaction; approximately 175 people are located in Asia. The combined textiles businesses will remain headquartered in Singapore.