Arkema Completes Acquisition of Den Braven
COLOMBES, France, December 1, 2016 /PRNewswire/ --
Arkema completed the acquisition of Den Braven, a leader in high performance sealants for insulation and construction in Europe, on 1st December. With this strong value-creating acquisition, Arkema confirms its long-term ambition for Bostik, and actively pursues the development of its High Performance Materials division.
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Den Braven offers an extensive range of sealing, bonding and foam solutions for construction professionals as well as industry. The company achieves annual sales of some €350 million (2016 estimate), and employs around 1,000 people. With this acquisition, Bostik significantly reinforces its offering in the insulation and construction markets, while creating a global market leader in high performance sealants thanks to the excellent geographic, technological and commercial fit between the two groups.
"We are pleased to welcome the Den Braven teams. Their state-of-the-art technologies, first-class industrial facilities and know-how widely recognized by their customers are all assets that we will continue to develop and build upon within Bostik. We are confident that this new growth platform will support our very strong ambition in adhesives", stated Vincent Legros, Executive Vice President, Bostik.
This acquisition fully illustrates Arkema's strategy to further strengthen the Group's profile as well as reduce its capital intensity.
The integration of Den Braven offers significant synergies assessed in total at €30 million at least, and should be accretive to earnings per share and cash as from 2017. It represents a new milestone in the achievement of Bostik's long-term ambition.
A designer of materials and innovative solutions, Arkema shapes materials and creates new uses that accelerate customer performance. Our balanced business portfolio spans high-performance materials, industrial specialties and coating solutions. Our globally recognized brands are ranked among the leaders in the markets we serve. Reporting annual sales of €7.7 billion in 2015, we employ approximately 19,000 people worldwide and operate in close to 50 countries. We are committed to active engagement with all our stakeholders. Our research centers in North America, France and Asia concentrate on advances in bio-based products, new energies, water management, electronic solutions, lightweight materials and design, home efficiency and insulation. For the latest, visit http://www.arkema.com
SOURCE Arkema
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