Arkema completes Bostik acquisition

Arkema finalized the acquisition of Bostik on February 2, having tabled the takeover plan in September last year.

With the acquisition, Arkema said it has ‘reached a new milestone in its development’, and confirms its ambition to become a world leader in specialty chemicals and advanced materials, with Bostik’s growth prospects and the complementarities identified between the two groups to ‘sustain the success of this high value creating project’.

Further, with the acquisition of Bostik, Arkema has fulfilled a project aligned with its strategy to reinforce its position in specialty chemicals and further develop its high performance materials segment. Bostik’s development drive and the synergies identified between the two groups will enable Arkema to continue strengthening its profile in the ‘steadily growing’ adhesives market, as well as its resilience to changes of the economic environment.

Bostik, which will constitute a new business unit of this segment (specialty adhesvies), holds leadership positions in most of its markets, and has internationally recognized brands and technologies.

The acquisition has also seen former Bostik chief executive officer Bernard Pinalet named as a member of Arkema's executive committee and managing director of Bostik.

Thierry Le Hénaff, Arkema chairman and CEO, said: ‘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.’