Both parties expect the transaction, which was first announced on August 9, 2022, to close on February 28, 2023, the companies said in joint press release.

Switzerland-based Archroma, a global leader in sustainable specialty chemicals and solutions for industries such as textiles, packaging and paper, paints, and coatings, has announced that it has secured all regulatory approvals required to complete the acquisition of the textile effects business from Huntsman Corporation (Huntsman Textile Effects).

Archroma is a portfolio company of US-based private investment firm SK Capital Partners. Since its formation in 2013, Archroma acquired and successfully integrated the global textile chemicals businesses of BASF as well as BASF’s stilbene-based OBA business for paper applications, and M Dohmen, a specialist in colouration for automotive textiles.

“We are very excited to see this acquisition nearing completion. I am deeply grateful to the project teams of Archroma and Huntsman who are preparing for a smooth transition for our employees and partners. After closing, we will be able to bring together our expert teams and highly complementary product portfolios to offer our customers and brand partners the high performance they expect, whilst respecting natural resources and the planet,” commented Heike van de Kerkhof, Archroma group chief executive officer (CEO).

Fibre2Fashion News Desk (NB)