Archroma has entered into a definitive agreement with Huntsman Corporation and says the combined company will continue to lead the textile industry in sustainability, innovation, and performance offering fashion brands, automotive, technical, and home textiles the best-in-class cost performance whilst respecting natural resources and the planet.
Since its formation in 2013, through a series of mergers and acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry. The company says the combination with Textile Effects and its historical roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen.
Both Archroma and Textile Effects are founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies that strives to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions that protect factory workers, local communities, consumers and the environment.
Both companies have been recognised by the industry and are each recipient of multiple awards for supplying sustainable systems and solutions in dyes and chemicals that enable fashion brands, retailers, and textile manufacturers to create articles that are better for consumers and the planet.
“I am thrilled to see the combination of Huntsman Textile Effects and Archroma,” says Barry Siadat, co-founder of SK Capital Partners and chairman of Archroma. “Finally, we have achieved a dream of combining the technologies, products and capabilities of the legacy pioneers of the textile industry, namely Ciba, Sandoz, Hoechst and BASF, into a modern and cohesive enterprise that is focused on delivering innovative and sustainable systems and solutions to serve the evolving needs of today’s textile industry.”
Heike van de Kerkhof, CEO of Archroma, adds: “With this agreement, two committed leaders in sustainable and innovative solutions unite to pave the way towards a more sustainable textile industry. We are delighted to welcome a team of highly talented people. Innovative and transformative leadership is not built overnight, and we are eager to work together with the people who made that happen at Huntsman Textile Effects.
Meanwhile, Rohit Aggarwal, president of Huntsman Textile Effects, notes: “The combination of Archroma and Textile Effects is transformational, bringing together two highly complementary organizations with strong cultures of innovation and a shared commitment to inspire advancements in the textile industry. We are excited by what we will be able to achieve together. At a time when we are seeing robust growth trends in sustainability, the merger will position us firmly to accelerate growth and drive significant value for our customers, employees, and stakeholders.”
Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.
Archroma recently released its Color Atlas online library for open access in design software for fashion, apparel, and textiles.