Arkema completes acquisition of South Africa’s Permoseal
Latest: On July 1, 2022, Arkema completed the acquisition of South Africa’s Permoseal, a leader in adhesive solutions for DIY, packaging and construction. Permoseal’s well-known brands will complement Bostik’s product portfolio in the region and strengthen its position in the dynamic changing markets of industry, construction and DIY in South Africa and sub-Saharan regions.
Permoseal has a strong presence in the South African retail channel, with sales of EUR 43 million in 2021. It has two production plants in South Africa.
The complementarity of the product portfolio will allow Bostik to expand its customer offerings in the South African construction market and to continue to expand its business in the region, benefiting from strong demand in the building renovation market. The acquisition will also help Bostik strengthen its position in packaging adhesives and expand its sustainable solutions for the industrial sector in the South African market.
Bostik Bostik CEO VINCENT
LEGROS said: “We are very pleased to welcome the Permoseal team to Arkema. The business marks Bostik’s
Bostik is one step closer to its growth target. This is also fully in line with the Group’s strategy: by 2024, become a pure-play specialty materials producer.