Visits: 27
Archroma, a leading company in sustainable specialty chemicals and solutions and a portfolio company of U.S.-based private investment firm SK Capital Partners (SK Capital), has announced it has entered into a definitive agreement to acquire the ‘Textile Effects’ business from Huntsman. In this context, Archroma and Textile Effects will continue to serve customers together in the coming years. The closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.
Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry, through a series of mergers and acquisitions, as well as internal investments in R&D, manufacturing and service capabilities since its formation in 2013. It is stated that this combination with Textile Effects and the rich historical roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen that have held a prominent position in the textile industry for decades. Archroma and Textile Effects are also founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies working to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions.
Archroma and Huntsman Textile Effects will focus on innovative and sustainable solutions
SK Capital Partners Co-Founder and Archroma Chairman Barry Siadat said he was thrilled to see the combination of Huntsman Textile Effects and Archroma. He disclosed: “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.”
Saying “The combination of Archroma and Textile Effects is transformational,” Huntsman Textile Effects President Rohit Aggarwal stated that this brings together two highly complementary organizations with strong cultures of innovation and a shared commitment to inspire advancements in the textile industry. Aggarwal continued: “We are excited by what we will be able to achieve together. 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.”
Huntsman Textile Effects, operating with 13 synthesis and formulation production sites in Asia, Europe and America, offers innovative solutions in textile dyes, chemicals and digital inks to iconic brands and retailers around the world.
