DIC Corporation has closed on the acquisition of BASF’s global pigments business, known as BASF Colors & Effects (BCE).
The acquisition brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain and customer service of the two companies to serve customers globally.
“We’re excited to close our acquisition of BCE and expand our product offering as one of the leading pigment suppliers globally” said Kaoru Ino, president and chief executive officer of DIC. “BASF’s pigments portfolio is an important strategic addition in expeditiously meeting the goals we’ve outlined, which provide a clear growth path for DIC with the target to increase our sales to 1 trillion yen (approximately €8 billion) by 2025.”
The purchase will broaden Sun Chemical’s portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, inks, plastics and specialty applications, by creating a world-class pigments supplier that offers customers an even wider range of versatile solutions.
“We’re pleased to welcome the valued and trusted expertise and engagement of BASF’s employees in the pigments business,” said Myron Petruch, DIC executive officer and president and CEO of Sun Chemical, a subsidiary of DIC Corporation. “This deal allows us to compete in the global marketplace more effectively going forward, while strengthening our pigment footprint in Europe. It underscores our commitment to delivering solutions tailored to meet the needs of our customers.”
White & Case LLP served as legal counsel, and Morgan Stanley served as financial advisor to DIC.
For more information, visit www.sunchemical.com.