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Home Business

Araldite Adhesive Maker to be acquired by Fevicol maker, Pidilite for Rs. 2,100Cr

by Chhavideep Singh
October 30, 2020
in Business
Reading Time: 2 mins read
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Araldite Adhesive Maker to be acquired by Fevicol maker, Pidilite for Rs. 2,100Cr
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Credits: https://rb.gy/3ahkeh

Araldite and Fevicol, both are adhesives that we must be using in our households. Both of these products are developed by different companies namely, Huntsman Corporation and Pidilite respectively.

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In a recent report, it has been confirmed that Pidilite is acquiring Huntsman Advances Materials Solutions Private Ltd., a subsidiary of the parent Huntsman Corporation for a total sum of Rs. 2,100 Cr.

According to the exchange filing report, the transaction does not require any prior permission from the regulatory bodies or the government of India and shall be successfully completed within the next few days. However, there are a few pre-conditions that need to be met before the transactions complete in order for it to be successful.

Araldite is an epoxy-based adhesive which is a flagship product of Huntsman Solutions Ltd. This product is a market leader with strong competition from Fevicol, a Pidilite product. Araldite is mostly used to bond metal objects and is used by mechanics to fix machinery in general and electric equipment.

A part of the deal includes the terms of agreement which says that Pidilite will pay most of the consideration at the closing of the transaction, say about 90% of the total; rest 10-12% amount will be paid in instalments stretched out to an 18 months period, if the business generates revenue in line with 2019 when Araldite maker outstood its sales.

Talking about 2019 sales of Araldite maker Huntsman Advanced Materials, the company earned revenue of Rs. 400 Cr. In addition to the consideration for transaction condition, Pidilite is acquiring Trademark License for Indian sub-continent, Africa, Association of Southeast Asian Nations and Middle-East countries as well.

Credits: https://rb.gy/kqypil

According to analysts, Pidilite shares have gone up by 5% since the news of the acquisition and some of them even stated that Huntsman has a strong reputation in retail business which will now add immense value to the already successful Pidilite portfolio as an adhesive brand.

Furthermore, analysts also say that this acquisition is good for both the companies as it makes them dominant in the market. Considering a cash value of Rs. 2, 000 crores, Pidilite is in a strong position to acquire Huntsman.

Within a day, the shares of Pidilite which were static for three to four months witnessed a bump in intraday value after Fevicol maker Pidilite signed an agreement to buy 100% stake in Araldite maker Huntsman’s subsidiary Material Solutions Private Ltd.

Tags: AralditeHuntsman Corp.Pidilite
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Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

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