LANXESS completes acquisition of disinfection and hygiene solutions provider Theseo
- Technical expertise and broad product portfolio strengthen position in growth market of animal hygiene
- Acquisition ideally complements global positioning of LANXESS materials protection business
Today, April 1, 2021, specialty chemicals company LANXESS completed the acquisition of the French Theseo group, a leading manufacturer of animal health and biosecurity solutions. LANXESS and the seller signed a corresponding binding purchase agreement on February 9, 2021, and the relevant antitrust authorities approved the transaction in mid-March.
With the acquisition, LANXESS is significantly expanding its portfolio of products for the growth market of animal husbandry – now comprising an extensive range of disinfection and hygiene solutions. In addition, the specialty chemicals company is adding products for pest control and for animal nutrition and welfare to its portfolio. The new businesses will be integrated into the Material Protection Products business unit.
LANXESS has financed the enterprise value of approximately EUR 70 million from existing cash. The acquired businesses represent sales of around EUR 33 million and EBITDA in the mid-single-digit million euro range. Within the next three years, LANXESS expects an additional annual EBITDA contribution in the same amount from synergy effects. The acquisition will already be earnings per share* accretive in the first fiscal year after its completion.
With the transaction, LANXESS is taking on more than 100 employees at sites in Laval (France), Wietmarschen (Germany), Hull (United Kingdom) and Campinas (Brazil).
* adjusted for exceptional items and amortization of intangible assets
Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
