By: ICN Bureau
Last updated : March 16, 2022 10:05 am
The merger enables Kraton to strengthen its global presence by leveraging DL Chemical's manufacturing capabilities and footprint in the Asian market
Kraton Corporation announced that the merger pursuant to which DL Chemical acquired Kraton has been completed on March 15, 2022. DL Chemical acquired Kraton in an all-cash transaction valued at approximately $2.5 billion.
The merger enables Kraton to strengthen its global presence by leveraging DL Chemical's manufacturing capabilities and footprint in the Asian market, along with its financial strength, allowing Kraton to further invest in industry-leading sustainable innovation. The merger also accelerates both DL Chemical's and Kraton's vision of being a global leader of specialty chemicals.
The transaction was announced on September 27, 2021, and received Kraton stockholder approval on December 9, 2021. As a result of the transaction completion, Kraton is now a wholly owned subsidiary of DL Chemical. Effective today, Mr. Marcello Boldrini and Dr. Holger Jung will lead Kraton as Co-Chief Executive Officers, overseeing Kraton's Chemical and Polymer segments, respectively.
"Today marks an exciting new chapter for Kraton," said Boldrini, Co-CEO of Kraton. "We are thrilled to be part of the DL Chemical group and look forward to working with their talented team to advance our sustainable business even further."
"We are pleased to have completed this transaction and look forward to what the future holds for Kraton and DL Chemical," said Dr. Jung, Co-CEO of Kraton. "DL Chemical provides the financial strength and the growth-oriented focus that allows Kraton to further invest in innovation and compete more effectively in the global market."