Arkema finalises acquisition of adhesive maker Bostik

French specialty chemicals company Arkema has finalised the acquisition of Bostik, the world’s third largest adhesives company, on February 2, 2015. With this acquisition, the Group aims to become a world leader in specialty chemicals and advanced materials. Bostik’s growth prospects and the complementarities identified between the two groups will sustain the success of this high value creating project.
 
Bostik, which will constitute a new business unit of this segment, holds leadership positions in most of its markets, has internationally recognised brands and technologies, and achieves around Euro 1.5 billion sales with 4,900 employees in over 40 countries.
 
“It is with great pleasure that we welcome the Bostik teams. I firmly believe in the quality and the development potential of this company which represents a promising growth platform for the future,” stated Thierry Le Henaff, chairman and chief executive officer, Arkema.
 
In a steadily growing adhesives market, Bostik’s development drive and the synergies identified between the two groups will enable Arkema to continue strengthening its profile as well as its resilience to changes of the economic environment.
 
The financing of this operation was successfully finalised early 2015 with a Euro 700 million bond issue with a 1.5% coupon, and complements the hybrid bond issue conducted in October 2014 and the share capital increase completed in December 2014.
 
With the acquisition of Bostik, the new entity achieves sales of around Euro 7.6 billion (in 2013) and employs some 19,000 people around the world.