Arkema to Acquire Ashland’s Performance Adhesives Division for Nearly $1.7 Billion
According to Arkema, the acquisition aligns with the group’s ambition to become a pure specialty materials player by 2024 while supporting Bostik’s strong long-term growth ambition.
Arkema recently announced that it has signed an agreement for the acquisition of Ashland’s Performance Adhesives business. The offer was reportedly made on the basis of a $1.65 billion enterprise value. According to Arkema, the acquisition aligns with the group’s ambition to become a pure specialty materials player by 2024 while supporting Bostik’s strong long-term growth ambition.
“We are very happy and proud of this move,” said Thierry Le Hénaff, Arkema’s chairman and CEO. “In a context of strong earnings growth following the recent divestment of PMMA and the start of the strategic review of Fluorogases, the acquisition of Ashland’s adhesives business is a fantastic opportunity to reinforce the Group’s presence in the US and to accelerate Bostik’s growth. With an excellent business which holds leading positions in many high-growth segments and a high level of profitability, this project fully aligns with the Group’s targeted acquisition strategy.