DIC to Acquire BASF’s Global Pigments Business
BASF and DIC have reached an agreement on the acquisition of BASF’s global pigments business. The purchase price on a cash and debt-free basis is €1.15 billion. The transaction is expected to close in the fourth quarter of 2020. The divestiture is subject to the approval of the relevant competition authorities.
“We have achieved our goal to find an owner who considers pigments a core strategic business,” says Dr. Markus Kamieth, member of the Board of Executive Directors of BASF SE, responsible for the Industrial Solutions segment. “DIC pursues ambitious growth plans and has announced to further develop the business in the coming years. We are convinced that the pigments business will be able to unfold its full potential within DIC.”
BASF stated that it has outlined a clear growth path for DIC with the target to increase its sales to approximately €8 billion, by 2025. “In this context, BASF’s pigments portfolio is an important strategic addition in meeting our goals more expeditiously. It will allow us to expand our position as one of the leading pigment suppliers globally and offer our customers even more versatile solutions,” said Kaoru Ino, president and CEO of DIC.