Paramelt, the leading adhesives producer in the Benelux, today announced the acquisition of the adhesives activities of BENEO-Bio Based Chemicals, a subdivision of the functional food ingredient company BENEO. The acquisition of the business formerly known as Remy Adhesives in Wijgmaal, Belgium will bring significant synergies to Paramelt’s water based adhesives activities in Veendam, The Netherlands.
Besides further strengthening Paramelt’s current position in packaging adhesives the acquired product ranges are largely complementary and provide Paramelt Veendam with a strong position in the European labelling market. The BENEO-Bio Based Chemical labelling adhesives have a well established reputation and are sold under the brands Latyl and Multicollac.
The acquired range consists of casein, hybrid, synthetic as well as starch based adhesives. Combined with Paramelt’s Plastomelt and Excelta packaging hotmelts and its Plastoflex pressure sensitive hotmelts the company offers a complete range of products for the labelling customers.
Terms of the transaction were not disclosed.
Paramelt is a multinational company focused on the development, production and sales of formulated waxes, adhesives and dispersions. Its products are processed into those of large and medium-sized industrial customers in sectors ranging from foods, cosmetics and packaging to rubber and investment casting. Paramelt, with its permanent staff of nearly 400, enjoys a turnover of around €200 million, which makes it the clear market leader in Europe and Asia. Paramelt has development and production facilities in the Netherlands, China and the United States. In addition, it has sales offices across Europe, North America and Asia. The head office is located in Heerhugowaard, the Netherlands.
BENEO is one of the leading suppliers of functional ingredients for food and feed. The BENEOs ingredients offer nutritional and technical advantages and are plant-derived from chicory roots, beet sugar, rice and wheat. BENEO is the ideal partner to help improve the health (weight management, energy for mental & physical performance, digestive, bone and dental health), taste, texture and nutritional value (fat and sugar replacement/fibre enrichment) of a product. Through a unique chain of expertise, including the BENEO-Institute, BENEO actively supports (industry partners in) the development of more balanced and healthy food products.
BENEO is a 100% subsidiary of the Südzucker Group, employs almost 900 people and has production units in Belgium, Chile, Germany and Italy.
Source: Paramelt, press release, 2011-10-03.