Iberchem

History

2020: Croda purchased Iberchem for $920 million

In the middle of November, 2020 it became known of what the Croda company specializing in production of chemical additives purchased producer of Iberchem fragrances. The transaction is estimated at 820 million euros ($920 million), the company intends to finance it at the expense of the existing borrowed funds and share placing.

Corda stated that it expects to attract about 600 million pounds sterling ($794.9 million) by means of the offer of actions to institutional investors and that placement is carried out by means of the accelerated bukbilding.

The company noted that on the PrimaryBid platform the retail proposal will also be made, the price of the placed shares will be determined by results of a bukbilding.

The producer of Iberchem fragrances is sold to the developer of raw materials for Croda cosmetics, the transaction is estimated at $1 billion

Merge to the Spanish company Iberchem, as expected, will open Croda access to business which is beyond primary activity of the enterprise, i.e. to the markets of perfumery and fragrances with considerable influence on emerging markets, especially in Latin America, the Pacific Rim, the Middle East and Africa. Croda expects that the deal will be closed by the end of 2020.

Thanks to consolidation of our enterprises, we create the new offer with a full range of services for our clients in the markets of consumer goods and the effective platform for development of the joint business in the forthcoming years. We look forward to an opportunity to begin cooperation with our new colleagues in Croda, using our practices and experience, - the CEO of Croda Steve Futs told.

As reported the Bloomberg agency on November 18, 2020, the largest transaction of Croda on a status still was acquisition in the 2006th divisions of Uniqema Imperial Chemical Industries for 410 million pounds sterling. This transaction provided to Croda the launch pad for more than ten-year growth in the field of specialized chemicals with higher margin.^[1]

Notes