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news.BASF has reached an agreement with Cognis Holding Luxembourg to acquire specialty chemicals company Cognis for an equity purchase price of EUR700m. Including net financial debt and pension obligations, the enterprise value of the transaction is EUR3.1bn.
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Cognis is a supplier of solutions and products based on renewable raw materials for the health and nutrition market as well as the cosmetics, detergents and cleaners industries.
Jurgen Hambrecht, chairman of the board of executive directors of BASF, said: “With the acquisition of Cognis, we are strengthening our portfolio with profitable businesses.”
Antonio Trius, CEO of Cognis, said: “With the support of our owners Permira Funds and CS Capital Partners, we have become a supplier of specialty chemicals. We are convinced that there are good opportunities through combining the strengths of Cognis and BASF.”
John Feldmann, member of the board of executive directors and responsible for the performance products segment of BASF, said: “By purchasing Cognis, we will expand our portfolio with products based on renewable raw materials.”