Heubach buy completed

Following approvals from regulators and shareholders, India’s Sudarshan Chemical Industries (SCIL) has completed its acquisition of Germany-based Heubach Group, the world’s second largest pigment player, in a combined asset and share deal. Terms were not disclosed.

The combined firm will have 19 sites. This comprises Heucbach’s facilities in Europe, the Americas and Asia-Pacific, and SCIL’s two major sites in India that make performance colorants, organic, inorganic and pearlescent pigments and dispersions, as well as azo and effect pigments.

Frankfurt-based Heubach had over €1 billion in sales in the 2021 and 2022 financial years but had faced financial challenges since then, due to rising costs, inventory issues and high interest rates. SCIL said that it “will address these challenges with a clear turnaround plan”.