Deals
Arkema Buys Sealant Maker Den Braven in $534 Million Deal
- CEO builds on past acquisition of Bostik at similar multiple
- Den Braven being sold by Dutch private equity firm Egeria
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Arkema SA agreed to buy Dutch sealant-and-adhesives maker Den Braven in a deal valued at 485 million euros ($534 million) as Chief Executive Officer Thierry Le Henaff builds on the acquisition of Bostik, the French company’s first foray into these specialty glues.
Den Braven will add sales of about 350 million euros and integration with Bostik could generate cost savings of 30 million euros in five years, Arkema said in a statement Wednesday. The price tag implies a multiple of 11 times this year’s earnings, before interest, taxes, depreciation and amortization.