Arkema Acquires Dow’s Packaging Adhesives Business

02.05.2024 - Arkema agreed to acquire Dow’s flexible packaging laminating adhesives business, a leading producer in this market with annual sales of approximately $250 million (€233 million). This acquisition will expand Arkema’s flexible packaging solutions portfolio, positioning the group as a key player in the industry.

Dow’s flexible packaging laminating adhesives business offers high-quality solutions for food, medical applications, and industrial lamination. The flexible packaging market is expected to grow, driven by the need for sustainable and recyclable solutions. With cutting-edge technologies and well-recognized brands like Adcote and Mor-Free, Dow’s laminating adhesives business is a key player in the packaging industry across North America and Europe.

“We are very happy to announce this great acquisition which is perfectly in line with Arkema’s strategy to offer its customers innovative products with high technological content and continue to grow in the attractive adhesives segment. It will allow the group and Bostik to broaden its commercial and geographic presence in packaging and complete its product ranges in this demanding and rapidly evolving market, notably regarding sustainable development challenges. We are very happy to welcome Dow’s teams in this new development stage”, commented Thierry Le Hénaff, Arkema’s chairman and CEO.

Arkema plans to capitalize on market growth and recovery, capturing new opportunities and achieving cost and development synergies. The proposed acquisition aligns with the Group’s strategy to expand in superior technologies and growing markets. Dow's flexible packaging laminating adhesives business is valued at $150 million (€140 million), approximately 10 times 2024 EBITDA, and will incur around $50 million (€46 million) in implementation costs or capex over the next three years.

The project is subject to the approval of certain antitrust authorities and is expected to close in the fourth quarter of 2024.



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