Speciality chemicals manufacturer Solenis has agreed to buy cleaning, infection prevention and hygiene giant Diversey. The $4.6 billion all-cash deal should be completed in 2H, subject to approval by Diversey shareholders, and will remove Diversey from public ownership. Both boards have backed it.
The merger between speciality chemicals distribution firms Caldic and Connell has been closed, creating a new global player with sales of €3 billion/year, 3,500 FTE employees and a presence in 43 countries. It will be mainly active in the food, (bio)pharma, personal care and industrial formulations markets.
“The strong regional presence of Connell helps Caldic to create a unique global growth platform with substantial footholds in two high-growth regions, in Asia-Pacific and Latin America, following the merger with GTM last year,” Caldic said.
Univar Solutions has confirmed that Brenntag has ended discussions with it about a potential merger. The company said that it is “committed to acting in the best interest of its stockholders and will continue discussions relating to other indications of interest that have been received with respect to a potential transaction”.
Brenntag originally opened discussions with Univar in November. The deal would have brought together the world’s largest and second largest chemical distributors. Brenntag and Univar had sales of €14.4 billion and $9.5 billion respectively in 2021.
Novozymes and Chr. Hansen have agreed to merge in what will be the largest ever such move between two Danish firms. The combined entity would have sales of €3.5 billion/year. Revenue synergies upwards of over €200 million and 6-8%/year growth to 2025 are expected.
Following reports by Bloomberg, it has been confirmed that Brenntag and Univar Solutions have held preliminary discussions regarding a potential acquisition. Neither company has commented further beyond stressing that discussions are at an early stage and there is no certainty of completion.
The deal, if completed, would be Brenntag’s largest ever and would bring together the world’s largest and second largest chemical distributors. Brenntag and Univar had sales of €14.4 billion and $9.5 billion respectively last year.
Caldic, the Netherlands-based distributor of life sciences and speciality chemicals, is to merge with Connell of the US, following an agreement by their respective owners, Advent International and Wilbur-Ellis. This should close in Q1 2023, subject to customary conditions and regulatory approvals. Terms were not disclosed and the companies will remain privately owned.
DSM and Swiss-based flavours and fragrances house Firmenich have agreed to merge. The deal, which is expected to close in 1H 2023, is valued at about $19.6 billion. DSM-Firmenich would have about €11.4 billion/year in sales, comparable to IFF after its combination with DuPont’s Nutrition and Biosciences business early last year.