MOSCOW (MRC) -- Arkema has agreed to acquire Den Braven, a producer of sealants for insulation and construction in Europe, in a deal valued at EUR 485 million from Dutch private equity firm Egeria, reported GV.
With EUR 350 million estimated sales for 2016 and approximately 1,000 employees at eight production sites around the word, Den Braven offers an extensive range of sealing, bonding, and foam solutions for construction professionals as well as industry.
Den Braven will become part of the Bostik Group - part of the High Performance Materials segment within Arkema - reinforcing its offering in the insulation and construction markets, and speeding up its growth in particular in Asia.
Arkema says it is actively pursuing the development of this segment, which should account for 50% of the group’s sales by 2020. Amongst others, the planned acquisition is subject to the approval of antitrust authorities in the countries concerned. Closing of the transaction is expected to take place in the last quarter of 2016.
We remind that, as MRC wrote before, Bostik, the specialty adhesives business line of Arkema, has expanded its cementitious products manufacturing capacities, based on its world-class Polymer Modified Binder (PMB) technology, at its Seremban plant in Malaysia. As a leading global adhesive specialist for construction, consumer and industrial markets, Bostik will be able to serve growing construction market demand in Central Malaysia, North Malaysia and Sabah regions.
On 2 February 2015, Arkema finalized the acquisition of Bostik, the world's No. 3 in adhesives.
Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. The company's business portfolio spans high-performance materials, industrial specialties and coating solutions. Reporting annual sales of EUR7.7 billion in 2015, the company employ approximately 19,000 people worldwide and operate in close to 50 countries.
MRC