French chemicals company Arkema to buy U.S. ArrMaz Custom for $570 mln

U.S. specialty chemicals company ArrMaz Custom Chemicals, Inc. has entered into an agreement to be purchased by French rival Arkema.

Arkema is paying $570 million to San Francisco-based private equity firm Golden Gate Capital to acquire ArrMaz.

The company noted that acquisition of ArrMaz Custom combines complementary expertise in formulations, technologies and geographic reach.

Following the relevant antitrust authority approvals, the transaction is expected to close during the summer. On completion of the deal, ArrMaz will be integrated into Arkema’s performance additives unit.