Arkema has completed its acquisition of Permoseal, a leader 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 positions in the dynamic industrial, construction, and DIY markets of South Africa and Sub-Saharan Africa.
Permoseal has a strong presence in South Africa’s retail channels and generated €43 million in sales in 2021. It has two manufacturing plants in the country.
The complementarity of product portfolios will enable Bostik to broaden its customer offering in the South African construction market and continue its regional expansion, benefiting particularly from rapidly growing demand in the building renovation market. This acquisition will also allow Bostik to strengthen its position in packaging adhesives and expand its offering of sustainable industrial solutions in the South African market.
Bostik CEO, Vincent Legros said “We are very happy to welcome Permoseal’s teams within Arkema. By strengthening our presence in South Africa in the high growth construction and DIY markets, this operation marks another step in Bostik’s growth ambition. It is also fully aligned with the Group’s strategy to become a pure Specialty Materials player by 2024”.
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