Arkema strengthens its positions in adhesives in South Africa
Arkema has announced the proposed acquisition of Permoseal in South Africa, one of the leaders in adhesive solutions for woodworking, packaging, construction and DIY.
Permoseal’s well-known brands and its extensive range of high-performance adhesive solutions are intended complement Bostik’s offering in the region, strengthening their positions in South Africa’s and Sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
The company offers a large portfolio of technical and sustainable solutions for packaging, as well as for wall and floor preparation, renovation and waterproofing. The company, with sales estimated at EUR 44 million in 2021, operates two production plants in the country.
Acquisition expected to be finalised in second-quarter 2022
According to Arkema, this bolt-on acquisition is in line with the strategy to grow the Group’s Adhesive Solutions segment and offers many development synergies. The project, which is subject to approval by antitrust authorities, should be finalised in second-quarter 2022.
