Arkema Acquires Permoseal

Arkema completed the acquisition of Permoseal, a leading company in adhesive solutions for DIY, packaging and construction in South Africa. Permoseal's well-known brands will complement Bostik's offering in the region and strengthen its position in the dynamic industrial, construction and building materials markets of South Africa and sub-Saharan Africa. Permoseal has a strong presence in South Africa's retail channels and achieved EUR 43 million in sales in 2021. The company operates two production facilities in the country. The complementary nature of the product portfolios will enable Bostik to expand its customer offering in the South African construction market and continue its expansion in the region by capitalizing on the strong growing demand, particularly in the building renovation market. The acquisition will also strengthen Bostik's position in packaging adhesives and enable it to provide sustainable solutions for the industrial sector in the South African market. Bostik Chief Executive Officer Vincent Legros said, "We are very pleased to welcome the Permoseal teams within Arkema. This operation marks another step in Bostik's growth targets by strengthening our presence in the high-growth construction and building materials markets in South Africa. It is also fully in line with the Group's strategy to become a pure-play Specialty Materials player by 2024."   SOURCE