The German antitrust authority has approved the acquisition of Dick Peters B.V. by ALTANA AG. Effective Dec. 30, 2008, the business activities of the Dutch manufacturer of wax additives, which was a subsidiary of Clariant, will be transferred to the BYK Additives & Instruments division within the ALTANA Group. ALTANA will take over the production site of Dick Peters B.V. in Denekamp with its staff of about 35 employees. The purchase price amounts to €17.5 million.
Dick Peters produces wax additives, which are used, for example, in molds metal casting, adhesives and printing inks. It will be integrated into BYK Cera B.V., which is also located in the Netherlands.
In 2007, Dick Peters B.V. achieved sales of about €24 million. ALTANA will acquire the major part of the wax additives business with sales of about €20 million; the remaining part of the business stays with Clariant.
“With the acquisition of Dick Peters, ALTANA continues its growth strategy,” stated Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. “In addition to organic growth, we pursue bolt-on acquisitions within the four existing divisions which must supplement our portfolio, strengthen our market position, be profitable and therefore create more value.”
“The acquisition of Dick Peters is an excellent supplement to our position in the wax additives business, which so far has been held by BYK Cera alone, and which now will be significantly strengthened,“ said Dr. Roland Peter, president Division BYK Additives & Instruments.