Archroma, a leader in sustainable specialty chemicals and solutions and a portfolio company of U.S.-based private investment firm SK Capital Partners, has entered into a definitive agreement with Huntsman Corporation to acquire Huntsman’s Textile Effects division. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.
Since its formation in 2013, through a series of mergers & acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry. The combination with Textile Effects and its rich historical roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen who have been at the cutting edge of the textile industry for decades, and together will continue to serve customers for years to come.
Both Archroma and Textile Effects are founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies that strives to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions that protect factory workers, local communities, consumers and the environment.
Bär & Karrer has acted as Swiss legal advisor to Archroma in this transaction. The team is co-led by Christoph Neeracher (partner, pictured left) and Luca Jagmetti (partner, pictured right) and includes Raphael Annasohn and Lukas Bründler (all m&a), Susanne Schreiber (tax), Markus Wang and Christine Schweikard (IP/IT/regulatory), Laura Widmer (employment), Corrado Rampini and Rocco Rigozzi (real estate) as well as Ruth Bloch-Riemer (pension). Latham & Watkins has acted as international lead counsel to Archroma in this transaction.