Sudarshan Chemical Industries has entered into a definitive agreement with the Germany-based Heubach Group, on its acquisition in a combination of an asset and share deal.
This strategic acquisition will create a global pigment company, combining SCIL's operations and expertise with Heubach's technological capabilities.
Post-acquisition, the combined company will have a broad pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. It will enhance SCIL's product portfolio, giving it access to customers and a diversified asset footprint across 19 sites globally. The combined company will be led by Rajesh Rathi and a high performing management team with quality execution skills and technical competency.
The Heubach Group has a 200-year history and became the second largest pigment player in the world after its integration with Clariant in 2022. Heubach had over a billion euros in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. The Group 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.