On 1 July 2022, Arkema finalised the acquisition of Permoseal in South Africa, a supplier of adhesive solutions for DIY, packaging and construction. Permoseal’s brands will complement Bostik’s offering in the region and strengthen its positions in South Africa’s and sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
Permoseal has a strong presence in South Africa’s retail channels and generated sales of €43 million in 2021. It operates two production plants in the country.
The complementarity of product portfolios will allow Bostik to broaden its customer offering in the South African construction market, and continue its expansion in the region, benefitting in particular from strongly growing demand in the building renovation market. This acquisition will also enable Bostik to consolidate its position in packaging adhesives, and expand its offering of sustainable solutions for the industrial sector in the South African market.
Vincent Legros, Bostik CEO, said: “We are very happy to welcome Permoseal’s teams within Arkema. By strengthening our presence in South Africa in the high growth construction and DIY markets, this operation marks another step in Bostik’s growth ambition. It is also fully aligned with the group’s strategy to become a pure specialty materials player by 2024.”
