Kraton, Advent, Vie for Arizona Chemical
Kraton Performance Polymers has offered to acquire pine chemicals producer Arizona Chemical Company in a deal that could exceed $1.2 billion including debt, according to news agency reports.
The rubber specialist is said to be competing in an auction for the US-based chemical producer currently owned by private equity firm Advent International. Other private equity groups including Bain Capital and Apollo Global Management are reported to have been interested in the company in the past.
Based in Jacksonville, Florida, the company makes pine chemicals used in fragrances, plastics and household cleaners. It has chemical manufacturing plants in the United States, UK, France, Germany, Sweden and Finland.
A decision by Arizona Chemical's majority owner, private equity investor American Securities is expected in the coming days, the reports said.
