This strategic acquisition will create a global pigment company, combining Sudarshan Chemical's operations and expertise with Heubach's technological capabilities. Post-acquisition, the combined company will have a broad pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. 

The Heubach Group has a 200-year history and became the second largest pigment player in the world after its integration with Clariant in 2022. Heubach had over €1 billion in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. The Group faced financial challenges over the past two years due to rising costs, inventory issues, and high interest rates. Sudarshan Chemical’s acquisition of Heubach will address these challenges with a clear turnaround plan.

“We are delighted with this transaction that brings together two businesses that will cater to major global markets," commented Rajesh Rathi, Managing Director of Sudarshan Chemical. "We will carefully integrate these two companies to create a truly global pigments company, with Frankfurt remaining a strategically important location. SCIL is known for its agility and efficiency, and we will embed this culture throughout the combined company to make it one of the most customer-centric and profitable pigment companies.”

“By joining hands with SCIL, we aim to reclaim our 200+ years of legacy of serving customers with high quality products," added Bram D’hondt, Managing Director Heubach. "Together, we will shape the future of the pigments industry by building on the ethos of customer centricity and product excellence. Our combined capabilities will enable us to serve our customers better. We look forward to working with SCIL as we enter this next chapter.”

The integration will focus on agility and customer centricity, aiming to make SCIL the supplier of choice with a diverse product portfolio and strong R&D capabilities. The combined entity aspires to become the most valuable global pigment company, leveraging its extensive global footprint and financial strength. Led by Managing Director Rajesh Rathi, the company will implement best practices to maximize stakeholder value and efficiency. Heubach offers a diverse, high-quality product portfolio to global blue-chip customers across various industries, supported by 17 manufacturing sites worldwide, ensuring stability and strong supplier and customer relationships.

The acquisition is expected to close in 3-4 months, subject to the satisfaction of customary closing conditions, including approvals from regulators and SCIL shareholders.