BASF SE has reached an agreement with Cognis Holding Luxembourg S. r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences to acquire the specialty chemicals company Cognis for an equity purchase price of ?00 million. Including net financial debt and pension obligations, the enterprise value of the transaction is ?.1 billion. The acquisition is subject to clearance by the competent merger control authorities. Closing of the transaction is expected for November 2010 at the latest.
With the acquisition of Cognis, we are strengthening our portfolio with cyclically robust and profitable businesses and further expanding our position as the world s leading chemical company, said Dr. J rgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE.
Cognis is a worldwide supplier of innovative solutions and products based on renewable raw materials for the health and nutrition market as well as the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as mining, lubricants, coatings as well as agriculture. The company employs about 5,500 people, and it operates production sites and service centers in 30 countries. In 2009, Cognis had sales of about ?.6 billion and an EBITDA (earnings before interest, taxes, depreciation and amortization) of ?22 million.
With the support of our owners Permira Funds and CS Capital Partners, we have become a leading innovative supplier of specialty chemicals, stated Dr. Antonio Trius, Chief Executive Officer of Cognis. In particular, our focus on wellness and sustainability and our expertise in renewable raw-material based products have been our main success factors. We are convinced that there are excellent opportunities through combining the strengths of Cognis and BASF.
The customers of Cognis include global consumer goods companies as well as regional suppliers from the personal and home care industries, as well as from the area of health and nutrition. The company also offers products for coatings and paints, lubricants for the transport industries and additives for chemical-technical applications for agriculture and mining.
With the acquisition of Cognis, we are strengthening our portfolio with cyclically robust and profitable businesses and further expanding our position as the world s leading chemical company, said Dr. J rgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE.
Cognis is a worldwide supplier of innovative solutions and products based on renewable raw materials for the health and nutrition market as well as the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as mining, lubricants, coatings as well as agriculture. The company employs about 5,500 people, and it operates production sites and service centers in 30 countries. In 2009, Cognis had sales of about ?.6 billion and an EBITDA (earnings before interest, taxes, depreciation and amortization) of ?22 million.
With the support of our owners Permira Funds and CS Capital Partners, we have become a leading innovative supplier of specialty chemicals, stated Dr. Antonio Trius, Chief Executive Officer of Cognis. In particular, our focus on wellness and sustainability and our expertise in renewable raw-material based products have been our main success factors. We are convinced that there are excellent opportunities through combining the strengths of Cognis and BASF.
The customers of Cognis include global consumer goods companies as well as regional suppliers from the personal and home care industries, as well as from the area of health and nutrition. The company also offers products for coatings and paints, lubricants for the transport industries and additives for chemical-technical applications for agriculture and mining.
