DL Chemical has entered into a definitive merger agreement to acquire 100% of US-based Kraton Corporation in an all-cash transaction of approximately $2.5 billion. Kraton’s Board of Directors has approved the transaction, which is expected to close by the end of the first half of 2022, subject to certain customary closing conditions. DL Chemical hired Goldman Sachs as the financial advisor in the deal, while Kraton hired J.P. Morgan Securities for the same role.
DL Chemical is a subsidiary of South Korea’s DL Holdings (formerly Daelim Industrial). Prior to this acquisition, DL Chemical bought Kraton’s Cariflex™ business for $530 million in cash. Kraton is a top producer of specialty sustainable polymers and high-value bio-based products derived from pine wood pulping co-products.
