The deal is expected to close in the fourth quarter of 2021.
Arkema produces bio-based and specialty epoxides used as additives or intermediates in the manufacture of lubricants, plastic additives and other applications. Part of Arkema’s hydrogen peroxide activity, the epoxides business reportedly has limited integration with the rest of the group’s portfolio, generates sales of around $40 million and employs approximately 45 people.
By joining Cargill, the business will benefit from Cargill’s size and a development strategy that will offer new growth potential in the industrial markets, according to Arkema.
The offer received values this activity at $38.8 million, which is around 10 times historical EBITDA, according to Arkema. The deal is expected to close in the fourth quarter of 2021.
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