Arkema Acquires Dow’s Flexible Packaging Laminating Adhesives Business
2024年5月2日 - 2:30PM
ビジネスワイヤ(英語)
Regulatory News:
Arkema (Paris:AKE) has agreed to acquire Dow’s
flexible packaging laminating adhesives business, one of the
leading producers of adhesives for the flexible packaging market,
generating annual sales of around US$250 million. The proposed
acquisition will significantly expand Arkema’s portfolio of
solutions for flexible packaging, enabling the Group to become a
key player in this attractive market.
Dow’s flexible packaging laminating adhesives business offers a
broad range of high-quality solutions in food and medical
applications, where flexible packaging is the optimal solution in
terms of efficiency, as well as for industrial lamination (window
films, photovoltaic backsheets, etc.). The flexible packaging
market is expected to grow at GDP+ in the coming years, driven in
particular by the need for more sustainable and recyclable
solutions. Boasting cutting-edge technologies, well-recognized
brands such as ADCOTE™ and MOR-FREETM, and five state-of-the-art
production sites in Italy, the United States and Mexico, Dow’s
laminating adhesives business is one of the main historical
solutions providers for the packaging industry, with presence in
North America and Europe.
Combined with Bostik’s existing commercial presence, product
offering and technological breadth for flexible packaging, this
operation will enable Bostik to ideally complement its existing
business, marking a step change and a unique opportunity for Bostik
to position itself as one of the key global partners for customers
across the packaging industry.
Beyond benefiting from the underlying growth and the recovery of
the market in the coming years, Arkema aims to rapidly capture new
growth opportunities and deliver a high and balanced level of cost
and development synergies, which should represent around US$30
million in EBITDA after 5 years.
The proposed acquisition is fully in line with the Group’s
strategy to expand in superior technologies and growing markets and
constitutes another important step to support the future growth of
its Adhesive Solutions segment. It is based on an enterprise value
of US$150 million (around 10 times 2024F EBITDA) and will trigger
around US$50 million of implementation costs or capex over the next
three years.
“We are very happy to announce this great acquisition which is
perfectly in line with Arkema’s strategy to offer its customers
innovative products with high technological content and continue to
grow in the attractive adhesives segment. It will allow the Group
and Bostik to broaden its commercial and geographic presence in
packaging and complete its product ranges in this demanding and
rapidly evolving market, notably regarding sustainable development
challenges. We are very happy to welcome Dow’s teams in this new
development stage”, stated Thierry Le Hénaff, Arkema’s Chairman and
Chief Executive Officer.
The project is subject to the approval of certain antitrust
authorities and is expected to close in the fourth quarter of
2024.
Building on its unique set of expertise in materials science,
Arkema offers a portfolio of first-class technologies to
address ever-growing demand for new and sustainable materials. With
the ambition to become a pure player in Specialty Materials, the
Group is structured into 3 complementary, resilient and highly
innovative segments dedicated to Specialty Materials - Adhesive
Solutions, Advanced Materials, and Coating Solutions - accounting
for some 92% of Group sales in 2023, and a well-positioned and
competitive Intermediates segment. Arkema offers cutting-edge
technological solutions to meet the challenges of, among other
things, new energies, access to water, recycling, urbanization and
mobility, and fosters a permanent dialogue with all its
stakeholders. The Group reported sales of around € 9.5 billion in
2023, and operates in some 55 countries with 21,100 employees
worldwide.
Arkema 420 rue d’Estienne d’Orves – 92705 Colombes Cedex
– France – T +33 (0)1 49 00 80 80 French Société anonyme,
registered at the Trade and Companies Register of Nanterre under
the number 445 074 685
arkema.com
Follow us on: Twitter.com/Arkema_group
Linkedin.com/company/arkema
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version on businesswire.com: https://www.businesswire.com/news/home/20240501705564/en/
Investor relations contacts Béatrice Zilm +33 (0)1 49 00 75 58
beatrice.zilm@arkema.com Peter Farren +33 (0)1 49 00 73 12
peter.farren@arkema.com Mathieu Briatta +33 (0)1 49 00 72 07
mathieu.briatta@arkema.com Alexis Noël +33 (0)1 49 00 74 37
alexis.noel@arkema.com Media contact : Anne Plaisance +33 (0)6 81
87 48 77 anne.plaisance@arkema.com
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