Arkema (Colombes, France; www.arkema.com) has announced the planned acquisition by its specialty adhesives business line, Bostik, of Den Braven, a leader in sealants for insulation and construction in Europe. With this acquisition, Arkema is actively pursuing the development of its High Performance Materials segment, which should account for 50% of the group’s sales by 2020. The acquisition represents an opportunity for Bostik to participate in the consolidation of the still fragmented adhesives and sealants market and to create a global market leader in high performance sealants for insulation and construction.
The acquisition has an enterprise value of €485 million, with synergies assessed at €30 million at least, fully achieved within 5 years.
With €350 million estimated sales for 2016 and some 1,000 employees, Den Braven is a leading player in high performance sealants in Europe. With state-of-the-art technologies, first-class industrial facilities with 8 production sites around the world, Den Braven offers an extensive range of sealing, bonding and foam solutions for construction professionals as well as industry.
The planned acquisition is subject to the legal information and consultation process at Arkema’s works council and to the approval of antitrust authorities in the countries concerned.
Closing is expected to take place in the last quarter of 2016.