On December 1, Arkema completed the acquisition of Den Braven in the Netherlands. Den Braven is Europe's leading manufacturer of high-performance barrier and building sealants. The strong value-added acquisition will help Arkema's Bostik achieve its long-term development goals, and actively promote the development of Arkema's high-performance materials division.
Den Braven offers a broad portfolio of sealing, bonding and foaming solutions for the construction industry. It is expected to have sales of 350 million euros in 2016 and currently employs about 1,000 people. With this acquisition, Bostik's products in the barrier and construction markets have been significantly enhanced. Combining the advantages of the two major groups in geographical layout, technology and business, Bostik will become a leader in the global high-performance sealant market.
Vincent Legros, Executive Vice President of Bostik, said: "We sincerely welcome the joining of the Den Braven team. The latest advanced technology, first-class production facilities and industry expertise recognized by our customers are all our continuous development and construction of Bostik A valuable asset in the process. We are confident that this new growth platform will help achieve our ambitious goals in the field of adhesives.
The acquisition fully demonstrates Arkema's strategy to further strengthen its corporate strength and reduce its capital intensity.
The acquisition of Den Braven brings a considerable valuation of at least 30 million Euros to Arkema. Since 2017, Arkema's earnings per share and cash earnings will increase. This acquisition is also a new milestone for Bostik in achieving its long-term development goals.