Arkema Acquires Ashland’s Performance Adhesives Business

Thierry Le Hénaff, chairman and CEO for Arkema. Photo courtesy of Arkema.

Arkema (Colombes, France) has signed an agreement to acquire Ashland Performance Adhesives (Wilmington, Delaware, USA), a leader in high-performance adhesives for industrial applications. According to Arkema, this aligns with the company’s ambition to become a player in the specialty materials marketplace by 2024 and focus its development on sustainable, high-performance solutions.

This agreement is expected to support the long-term growth of Bostik, a French manufacturer of adhesives and sealants acquired by Arkema in 2015. This key step now allows Bostik to aim for an earnings before interest, taxes, depreciation, and amortization (EBITDA) margin above 17 percent in 2024.

“We are very happy and proud of this move. In a context of strong earnings growth following the recent divestment of PMMA and the start of the strategic review of Fluorogases, the acquisition of Ashland’s adhesives business is a fantastic opportunity to reinforce the Group’s presence in the US and to accelerate Bostik’s growth,” says Thierry Le Hénaff, chairman and chief executive officer (CEO) for Arkema.

“With an excellent business which holds leading positions in many high-growth segments and a high level of profitability, this project fully aligns with the Group’s targeted acquisition strategy,” adds Le Hénaff. “Ashland’s adhesives will constitute a new technological platform for our adhesives and the synergies are particularly high given the geographical and application complementarities with Bostik and our Coating Solutions platform.”

Ashland’s large range of key technologies and well-known brands make it a key player in pressure-sensitive adhesives in the U.S. In 2021, the company’s estimated sales reached $360 million USD, along with an estimated EBITDA of $95 million USD. The company also holds significant positions in structural adhesives—particularly segments such as wood bonding for construction, composites, and transportation—and offers a wide range of adhesives for flexible packaging. The business employs approximately 330 people and operates six production plants, mainly in North America.

“The cultures of the teams are very close, focused on customer centricity and sustainable innovation,” says Le Hénaff. “We look forward to welcoming Ashland’s high-caliber management team and to partner together for this highly value creative deal.”

This deal will be financed fully in cash and is subject to the approval of the antitrust authorities in the countries concerned.

Source: Arkema,