Arkema Completes Permoseal Acquisition
Arkema has closed its acquisition of South Africa’s Permoseal, a move designed to strengthen and complete the portfolio of its adhesives subsidiary Bostik.
The South African company is regarded as a major player in adhesive solutions for DIY, packaging and construction.
Financial terms of the deal were not disclosed.
The French specialty chemicals producer said Permoseal’s well-known brands will complement Bostik’s offering in the region and strengthen its position in the South African and Sub-Saharan African markets for key applications. With sales of €43 million in 2021 and two production plants, the company is said to have a strong presence in retail channels.
The complementary product portfolios will allow Bostik to broaden its customer offering in the South African construction market and continue its expansion in the region, Arkema said. In particular, it is expected to benefit from strongly growing demand in the building renovation market.
In addition, Arkema said the acquisition will enable Bostik to consolidate its position in packaging adhesives and expand its offering of sustainable solutions for the industrial sector regionally.
Together, Arkema and Bostik – which was acquired by Arkema in 2015 – were recently ranked as fifth largest player in the global market for adhesives and sealants. The top 20 list was led by companies such as Henkel and 3M.
Bostik, which was founded in the US state of Massachusetts and once belonged to energy group Total, now TotalEnergies, was acquired by the specialty chemicals producer in 2015.
Author: Dede Williams, Freelance Journalist
