Arkema recently announced that it has finalized its acquisition of Permoseal, a South African producer of adhesive solutions for DIY, packaging, and construction. Permoseal reportedly has a strong presence in South Africa’s retail channels. The company generated sales of €43 million (approximately $44.9 million) in 2021 and operates two production plants in the country.
Bostik reports that the complementarity of product portfolios will allow it 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. This acquisition 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.
“We are very happy to welcome Permoseal’s teams within Arkema,” said Vincent Legros, Bostik CEO. “By strengthening our presence in South Africa in the high growth construction and DIY markets, this operation marks another step in Bostik’s growth ambition. It is also fully aligned with the Group’s strategy to become a pure Specialty Materials player by 2024.”
Additional information is available at www.arkema.com.