Archroma India Private Limited and BASF India Limited (BIL) have signed an agreement for the acquisition by Archroma of BASF’s stilbene-based OBA (optical brightening agents) business for paper and powder detergent applications.
The transaction includes BASF’s manufacturing unit at Ankleshwar, India, where approximately 100 people are currently employed.
Archroma is a member of the SK Capital Partners group. In July 2015 the company acquired the global textile chemicals business of BASF, and, between 2014 and 2018, M. Dohmen, an international group specializing in the production of textile dyes and chemicals for the automotive, carpet and apparel sectors.
“We are extremely pleased with this opportunity to further consolidate our position as a global leader in the chemical industry by expanding both our supply capacity and application markets”, said Marcos Furrer, President of Packaging & Paper Specialties, Archroma. “This acquisition will not only allow Archroma to strengthen our OBA supply to customers in the packaging & paper industry, in particular in India and Asia; it will also help us develop our portfolio offering to customers in the detergents market with high performance powder OBAs.”
“In line with BASF’s strategy of actively managing its portfolio, this transaction allows us to better fulfill our business potential”, said Narayan Krishnamohan, Managing Director, BASF India Limited and Head, South Asia. “Archroma is a global leader in color and specialty chemicals. Ensuring a smooth transition of our customers, suppliers and employees to Archroma will be a priority.”
The transaction is expected to be completed in the fourth quarter of 2019.