Archroma to Acquire Huntsman Textile Effects Business
Since its formation in 2013, through a series of mergers and acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry and become a global leader in sustainable specialty chemicals and solutions. Earlier this month the company, with headquarters in Pratteln, Switzerland, announced a definitive agreement to acquire the Textile Effects business from Huntsman Corporation.
Barry Siadat, co-founder of SK Capital Partners and chairman of Archroma, stated, “Finally, we have achieved a dream of combining the technologies, products and capabilities of the legacy pioneers of the textile industry, namely Ciba, Sandoz, Hoechst and BASF, into a modern and cohesive enterprise that is focused on delivering innovative and sustainable systems and solutions to serve the evolving needs of today’s textile industry.”
Heike van de Kerkhof, CEO of Archroma, added, “With this agreement, two committed leaders in sustainable and innovative solutions unite to pave the way towards a more sustainable textile industry.”
“At a time when we are seeing robust growth trends in sustainability, the merger will position us firmly to accelerate growth and drive significant value for our customers, employees, and stakeholders,” said Rohit Aggarwal, president of Huntsman Textile Effects.
Closing of the transaction is expected to take place in the first half of 2023.