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Pigments: Sudarshan completes acquisition of Heubach
Sudarshan Chemical Industries Limited (“SCIL” or “Company”) has announced that through its wholly owned subsidiary Sudarshan Europe it has completed its previously announced acquisition of Germany-based Heubach Group (“Heubach”) in a combination of an asset and share deal.
This strategic acquisition creates a global pigment company, bringing together SCIL’s operations and expertise with Heubach’s technological capabilities. It will enhance SCIL’s product portfolio, giving it access to a diversified asset footprint across 19 international sites. The combined company will have a broad pigment portfolio and a strong presence in major markets including Europe and the Americas. Rajesh Rathi will lead the combined company as Managing Director and Chief Executive Officer alongside a leadership team with techno-managerial competencies.
Heubach has a 200-year-old history and became the second largest pigment player in the world after its integration with Clariant in 2022. It had over 1 billion EUR in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. The pigment producer faced financial challenges over the past two years due to rising costs, inventory issues, and high interest rates. SCIL’s acquisition of Heubach will address these challenges with a clear turnaround plan.
Commenting on the closure of the acquisition, Rathi said, “Today marks an exciting new chapter as we unite with Heubach to become an inspirational leader in the colorants industry. The combined company builds on the rich legacies of both Sudarshan and Heubach. Our goal is now to create the world’s most valuable pigment company with great financial strength and profitability. Together, we will drive continuous innovation and deliver breakthrough solutions that benefit each of our stakeholders.”
SCIL is proud to have completed the transaction on schedule. The integration team has worked diligently to ensure a smooth transition and has already developed a detailed execution plan across all functions. The immediate priority will be to operate as one—unlocking efficiencies, driving synergies, and fully integrating legacy Clariant, Heubach, and Sudarshan into a unified, stronger organization with shared values.
Germany remains a strategic location for SCIL and by establishing its second global headquarters in the Frankfurt area, the company underscores the region’s role as a key pillar of its operations and future growth.
