DIC to acquire BASF’s global pigments business
The purchase price on a cash and debt-free basis is 1.15 billion Euro. The transaction is expected to close in the fourth quarter of 2020. The divestiture is subject to the approval of the relevant competition authorities.
“We have achieved our goal to find an owner who considers pigments a core strategic business,” says Dr. Markus Kamieth, member of the Board of Executive Directors of BASF SE, responsible for the Industrial Solutions segment. “DIC pursues ambitious growth plans and has announced to further develop the business in the coming years. We are convinced that the pigments business will be able to unfold its full potential within DIC.”
DIC is a Japanese company listed at the Tokyo Stock Exchange with about 20,000 employees globally. The company headquartered in Tokyo was founded in 1908, is active in more than 60 countries and generated sales of approximately 800 billion yen in 2018. This corresponds to about 6.8 billion Euro. Under the slogan “Color & Comfort,” DIC is active in three segments: Packaging & Graphics, Functional Products and Color & Display. Color & Display includes a portfolio of pigments.
BASF’s pigments business with around 2,600 employees globally generated sales of approximately 1 billion Euro in 2018.