Arkema (Colombes, France) announced the proposed acquisition of Permoseal (Cape Town, South Africa), a leader in adhesive solutions for woodworking, packaging, construction, and do-it-yourself (DIY) projects. Permoseal’s well-known brands, such as Alcolin, and its extensive range of high-performance adhesive solutions will complement the offerings of Bostik, a subsidiary of Arkema that manufactures adhesive and sealing products, in the South Africa and sub-Saharan Africa markets.
Permoseal offers a large portfolio of technical and sustainable solutions for packaging, as well as for wall and floor preparation, renovation, and waterproofing. Leveraging its well-known brands, Permoseal has a strong presence in South Africa retail chains, with sales estimated at €44 million (~$49.5 million) in 2021.
With this proposed acquisition, Arkema will significantly strengthen its presence in South Africa’s DIY adhesives sector, in which the Bostik and Den Braven brands are already established. The complementarity of product portfolios will allow Bostik to broaden its customer offerings in the South African construction market, as well as continue its expansion in the building renovation market. In addition, the company expects to consolidate its position in packing adhesives and develop its offerings of sustainable solutions for the industrial sector.
This bolt-on acquisition is in line with the strategy to grow the group’s adhesive solutions segment and offers many development synergies. The acquisition, which is subject to approval by antitrust authorities, should be finalized in second-quarter 2022.
Source: Arkema, www.arkema.com.