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- Arkema (OTCPK:ARKAY) to acquire Dow's (DOW) flexible packaging laminating adhesives business, which generates annual sales of around $250 million.
- The proposed acquisition is in line with the Group’s strategy to expand in superior technologies and growing markets and constitutes another important step to support the future growth of its Adhesive Solutions segment. It is based on an enterprise value of $150 million (around 10 times 2024F EBITDA) and will trigger around $50 million of implementation costs or capex over the next three years.
- Arkema aims to rapidly capture new growth opportunities and deliver a high and balanced level of cost and development synergies, which should represent around $30 million in EBITDA after 5 years.
- Source: Press Release