Arkema recently announced its proposed acquisition of South Africa-based Permoseal, a manufacturer of adhesive solutions for woodworking, packaging, construction, and DIY. Arkema reports that Permoseal’s brands, including Alcolin®, and its range of high-performance adhesive solutions will complement Bostik’s offering in the region.
With estimated sales of €44 million (approximately $49.6 million) in 2021, Permoseal operates two production plants in South Africa. The company offers a portfolio of technical and sustainable solutions for packaging, wall and floor preparation, renovation, and waterproofing. Arkema reports that 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.
According to Arkema, this bolt-on acquisition is in line with its strategy to grow its Adhesive Solutions segment and offers many development synergies. The project, which is subject to approval by antitrust authorities, should be finalized in the second quarter of 2022.
Additional information is available at www.arkema.com.