Emerald Kalama Chemical has announced that affiliates of its majority owner, American Securities LLC, have entered into a definitive agreement to sell Emerald to Lanxess AG, a leading specialty chemicals company.
The sale is expected to be completed in the second half of 2021, following customary and requisite approvals.
The sale will include all of Emerald’s operations in Washington State, the United Kingdom and the Netherlands. These facilities are used to manufacture consumer-friendly preservatives, nature-identical aroma chemicals, low-VOC coalescents and non-phthalate plasticizers and modifiers.
Edward Gotch, CEO and board member of Emerald, said, “Emerald has grown at a rapid pace, and we have continuously invested in expanding our capabilities. Lanxess has a sterling reputation within our industry as a global supplier, with a foundation built on exceptional service, responsible manufacturing and growth year-over-year. This is a fantastic development for Emerald, as Lanxess will be able to capitalize on existing successes and position of our businesses to continue growing synergistically."
Matthias Zachert, chairman of the board of management of Lanxess AG, said, “We are gaining further momentum on our growth course. The businesses of Emerald Kalama Chemical are an ideal fit for us. We will further strengthen our Consumer Protection segment and open up new application areas with strong margins, for example in the food industry and animal health sector. In addition, we will also enlarge our presence in our growth region of North America."