Kraton Performance Polymers to Acquire Arizona Chemical
HOUSTON – Kraton Performance Polymers Inc. has entered into a definitive agreement to acquire all of the capital stock of privately held Arizona Chemical Holdings Corp. for a cash purchase price of $1.37 billion. Arizona Chemical produces performance products and specialty chemicals derived from non-hydrocarbon, renewable raw materials. Arizona Chemical’s end-use market exposure is complementary with that of Kraton, particularly in markets such as adhesives, roads and construction, coatings, and oilfield chemicals.
“Kraton and Arizona Chemical are both well-respected, leading providers of high-quality products and innovations in their respective specialty markets,” said Dan F. Smith, Chairman of Kraton’s Board of Directors. “The fact that Kraton and Arizona Chemical have such a highly complementary market focus, coupled with a shared business philosophy fundamentally premised on product differentiation and portfolio shift to drive improved profitability, is what makes this such a compelling combination,” added Smith.
The acquisition is subject to regulatory and other customary approvals and conditions and is currently expected to close in late 2015 or early 2016.