Swiss specialty chemicals firm Archroma has made a major move to expand its presence in the textile industry by announcing its plans to acquire the Textile Effects business of Huntsman Corporation. The acquisition will solidify Archroma’s position as a global leader in sustainable specialty chemicals and solutions.

Archroma, a portfolio company of private investment firm SK Capital Partners, has been actively building its comprehensive portfolio of textile industry solutions since its establishment in 2013. This strategic acquisition will create a technology powerhouse as Archroma brings its legacy heritages from Sandoz, Hoechst, Clariant, BASF, and Dohmen, while Textile Effects contributes its rich historical roots of Huntsman and Ciba Specialties. The collaboration will result in a stronger and more innovative company focused on providing sustainable solutions to the evolving needs of the textile industry.

Both Archroma and Textile Effects are founding members of the sustainable chemistry alliance for the Textile Industry (SCTI), which aims to promote the adoption of sustainable chemistry solutions in the textile and leather industries. The joint press release from both companies emphasizes their commitment to sustainability and their track record of providing sustainable systems and solutions to fashion brands, retailers, and textile manufacturers.

Barry Siadat, co-founder of SK Capital Partners and chairman of Archroma, expressed his excitement about the merger, highlighting the combination of technologies, products, and capabilities from the legacy pioneers of the textile industry. Siadat sees this as a significant step forward in delivering innovative and sustainable solutions to meet the needs of today’s textile industry.

Heike van de Kerkhof, CEO of Archroma, described the agreement as a “merger of equals.” She emphasized the shared commitment to sustainability and innovation from both companies and expressed her enthusiasm for welcoming the highly talented team from Huntsman Textile Effects. Van de Kerkhof also acknowledged the transformative leadership and hard work that made this merger possible.

The completion of the transaction is subject to customary conditions and approvals but is expected to be finalized in the first half of 2023. This acquisition represents a significant milestone for Archroma and sets the stage for further advancements in sustainable specialty chemicals and solutions for the textile industry.

Useful links:
1. Archroma
2. Huntsman Textile Effects