Pratteln - Specialty chemicals and solutions supplier Archroma, the supplier of sustainable specialty chemicals and solutions for industries such as textiles, nonwovens and coatings, has announced that it has secured all regulatory approvals required to complete the acquisition of the Textile Effects business from Huntsman Corporation.
Both parties expect the transaction, which was first announced on 09 August 2022, to close on 28 February 2023.
Archroma is a portfolio company of US-based private investment firm SK Capital Partners. Since its formation in 2013, Archroma acquired and successfully integrated the global textile chemicals businesses of BASF as well as BASF’s stilbene-based OBA business for paper applications, and M. Dohmen, a specialist in coloration for automotive textiles.
Welcoming the regulatory approvals, Heike van de Kerkhof, Archroma Group chief executive officer, said: “We are very excited to see this acquisition nearing completion. I am deeply grateful to the project teams of Archroma and Huntsman who are preparing for a smooth transition for our employees and partners. After closing, we will be able to bring together our expert teams and highly complementary product portfolios to offer our customers and brand partners the high performance they expect, whilst respecting natural resources and the planet.”
Both Archroma and Huntsman Textile Effects are founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies that strives to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions that protect factory workers, local communities, consumers and the environment.
Both companies have been recognized by the industry and are each recipient of multiple awards for supplying sustainable systems and solutions in dyes and chemicals that enable fashion brands, retailers, and textile manufacturers to create articles that are better for consumers and the planet.
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