Bostik to Acquire XL Brands
Paris, FR, November 7, 2017-Bostik has announced that it will acquire XL Brands.
XL Brands, a division of Textile Rubber & Chemical Company of Dalton, is a purveyor of adhesives for resilient and soft flooring in the United States.
With a new production facility in Dalton, Georgia, XL Brands offers environmentally friendly solutions that are fully complementary to Bostik's product range in the United States (hardwood flooring adhesives, floor preparations, sealants, etc.).
This bolt-on acquisition, which complements the acquisition of CMP last May, will help Bostik become one of the leaders in floorcovering adhesives in the United States. This proposed acquisition is expected to close end 2017 and is subject to regulatory approval by antitrust authorities. Bostik’s offer is based on a $205 million enterprise value.
With this transaction, Arkema, Bostik’s parent company, actively pursues its development strategy in adhesives, which should exceed one third of the group's sales by 2023.