Sika To Acquire AkzoNobel Adhesives Business

Baar, Switzerland, Aug. 12, 2013 -- Sika has reportedly made a binding offer of $344 million to acquire the building adhesives business of the Dutch company AkzoNobel.

With annual sales of $245 million, AkzoNobel Building Adhesives is a top player in its core European markets and employs 550 people.

With the acquisition, Sika will increase its product offering for interior finishing in the flooring, sealing and bonding and refurbishment markets.

The transaction is expected to be completed this year.