MAM

Pidilite acquires Huntsman Group's India subsidiaries

HAMSPL manufactures and sells adhesives, sealants and other products under Araldite, Araldite Karp

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/10/29/pidi.jpg?itok=3zXea6Kq

MUMBAI: Pidilite has approved a definitive agreement with US-based Huntsman Group for acquiring 100 per cent stake in one of their subsidiaries in India – Huntsman Advanced Materials Solutions Private Ltd (HAMSPL) – for Rs 2,100 crores.

HAMSPL manufactures and sells adhesives, sealants and other products under Araldite, Araldite Karpenter and Arasealin India. In the calendar year 2019, its business revenue was approximately Rs 400 crores. In addition to the Indian sub-continent business, the acquisition includes a trademark license for Middle East, Africa and ASEAN countries.

Under the agreement, Huntsman will receive approximately 90 per cent of the cash consideration at closing and balance approximately 10 per cent under an earnout within 18 months if the business achieves sales revenue in-line with 2019. The transaction is expected to close by next week. HAMSPL has a nation-wide distribution network and a strong presence in retail trade.

Pidilite Industries Ltd executive director Apurva Parekh said, “Araldite is an iconic brand and a market leader in epoxy adhesives in India. We are thankful for all the support extended by the Huntsman group and we are confident that our association will remain strong going forward.”

Pidilite managing director Bharat Puri stated, “With this acquisition, Araldite will add to the already very strong portfolio of Pidilite’s adhesive and sealant brands and will complement our retail portfolio. We are confident that this acquisition will create significant shareholder value through strong revenue and cost synergies.”

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/05/homelane-campaign.jpg?itok=-LeTq8dA
HomeLane to invest Rs 100 crore in marketing over 12 months

In India, getting home interiors done is generally regarded as a significant but chaotic exercise. As a result, the business segment remains highly unorganised and plagued with unpredictability in terms of time, quality, transparency and expertise.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/05/friends.jpg?itok=5YFfW_bu
Seniority & Nobel Hygiene's latest offering is for silvers with active lifestyle

NEW DELHI: Adult incontinence is a major health issue affecting millions of senior citizens across the world. In an effort to cater to the evolving needs of the elderly, Seniority and Nobel Hygiene have joined hands to launch a new range of adult diapers – Friends Premium Pants with a unique odour-...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/nabendu_bhattacharyya.jpg?itok=pYHwMUMK
Nabendu Bhattacharyya moves on from Milestone Brandcom

NEW DELHI: Nabendu Bhattacharyya, an industry veteran with more than two decades of experience in the Indian out-of-home (OOH) space, has decided to move on from his current role as CEO and MD of Milestone Brandcom, the India-based OOH specialist agency from the house of dentsu international. He...

MAM Media and Advertising Out Of Home
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/market.jpg?itok=hzwdzray
Advertising in newspapers most trusted by consumers: ASCI-ISA report

Advertising seen on traditional media continues to enjoy high trust amongst consumers, with newspapers (86 per cent) emerging as the most trusted, a report by the Advertising Standards Council of India (ASCI) and the Indian Society of Advertisers (ISA) stated.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/eatqual_2.jpg?itok=JF896DXo
EatQual: McDonald's new packaging for the specially-abled

NEW DELHI: Back in the noughties, McDonald’s as a brand was the great Indian equaliser. The brand was in dire straits after failing to win over Indian consumers whose palates and wallets were used to the taste and inexpensiveness of samosa, vada pao and chaat; so, McDonald’s switched gears and...

MAM Marketing Brands
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/visa_0.jpg?itok=4r47RkZp
Wieden + Kennedy, Publicis win Visa's global creative accounts

NEW DELHI: Visa has handed over its creative accounts worth $200 million to Wieden + Kennedy and Publicis Groupe. While Wieden + Kennedy will now be responsible for leading its creative strategy and major initiatives, Publicis Groupe will be in charge of production duties.  Publicis Groupe’s...

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/reverse_thought.jpg?itok=UHOKAs-2
Reverse Thought wins digital mandate for ICICI Prudential Pension Funds

NEW DELHI: Reverse Thought Creative Studios has won the digital mandate for ICICI Prudential Pension Funds Management Co Ltd. The agency will develop and manage creatives on topics relevant to the present and prospect investors in the National Pension System (NPS) of ICICI Prudential Pension Fund...

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/japa_0.jpg?itok=xiPFm7jx
First-ever digital edition of Japanese Film Festival 2020 opens today in India

Japan Foundation New Delhi announced the launch of the Fourth edition of Japanese Film Festival (JFF) 2020 in India, today. The one-of-a-kind 10-day digital Film Festival will be held from 4th to 13th December’20.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/04/honeygate.jpg?itok=af_EPoGz
Honeygate: A sweet tale turns bitter for brands

KOLKATA: Honey is one of the most loved home remedies or immunity booster in Indian households. With the onset of Covid2019, the sweet miracle has attracted more Indian consumers, even global buyers. But a plot-twist has changed the narrative, as top brands in the category are allegedly...

MAM Marketing Brands

Sign up for our Newsletter

subscribe for latest stories

* indicates required