Lanxess Eyes More M&A After $1 Billion Deal Amid Transformation
- Buying specialty chemical maker from American Securities
- Industrial sector starting to position for brighter economy
This article is for subscribers only.
Lanxess AG agreed to buy Coca-Cola Co.-supplier Emerald Kalama for $1.08 billion as the specialty chemicals maker advances the transformation of what was once a hodgepodge of chemical assets spun out of Bayer AG.
The purchase from private-equity firm American Securities adds a supplier of preservatives used in food and drinks, after Lanxess passed on the $4.6 billion sale of Lonza Group AG’s Specialty Ingredients business. Emerald Kalama adds a company in Lanxess’s sweet spot of anti-bacterial solutions, without overpaying, Chief Executive Officer Matthias Zachert said.