Permoseal offers a large portfolio of technical and sustainable solutions for packaging, as well as for wall and floor preparation, renovation and waterproofing. Leveraging its well-known brands, Permoseal has a strong presence in South Africa’s retail chains, and is the exclusive distributor of the Bostik® and Evo-Stik® brands in the region. The company, with sales estimated at €44 million in 2021, operates two production plants in the country.
With this proposed acquisition, Bostik will significantly strengthen its presence in South Africa in the DIY adhesives sector, in which the Bostik® and Den Braven® brands are already well established. The complementarity of product portfolios will allow Bostik to broaden its customer offering in the South African construction market, and continue its expansion in the region, benefiting in particular from strongly growing demand in the building renovation market. The project will also enable Bostik to consolidate its position in packaging adhesives, and expand its offering of sustainable solutions for the industrial sector in the South African market.
This bolt-on acquisition is in line with the strategy to grow the Group’s Adhesive Solutions segment and offers many development synergies. This project, which is subject to approval by antitrust authorities, should be finalized in second-quarter 2022.