- December 9, 2010: acquisition of specialty chemicals company Cognis
- Equity purchase price of €704 million, net financial debt of €1,806 million, pension obligations of €551 million
- Cognis businesses nearly entirely integrated into the Performance Products segment
BASF acquired the specialty chemicals company Cognis on December 9, 2010. The equity purchase price was €704 million; on the acquisition date, net financial debt of €1,806 million and pension obligations of €551 million were assumed.
Almost all of the Cognis businesses have been integrated into the Performance Products segment. To prepare for the realization of the integration, the divisional structure of the segment was modified as of August 1, 2010: The existing Care Chemicals division was split in two. The new division Nutrition & Health comprises products and system solutions for the nutrition and health market as well as for the fragrances and flavors industry. It combines BASF’s businesses with Human and Animal Nutrition, Pharma Ingredients & Services, and Aroma Chemicals with the former Cognis segment Nutrition & Health. The Care Chemicals division now comprises products and system solutions for cleaning, cosmetics and hygiene. It merges BASF’s businesses Personal Care, Hygiene, Home Care and Formulation Technologies with the former Cognis segment Care Chemicals, which contained the businesses Personal Care and Home Care.
Thanks to the integration of Cognis, we are also now able to offer our customers in the Performance Chemicals and Dispersions & Pigments divisions an even more attractive product portfolio: Formulation additives and resins from Cognis have expanded our product range in the Dispersions & Pigments division. New additions to the Performance Chemicals division’s portfolio include Cognis’ mining chemicals and synthetic lubricants businesses.
Detailed integration plans will be developed by the end of March 2011 and the structural integration should be completed by the end of 2011.
Care Chemicals division split into two divisions
- Existing Care Chemicals division split into the divisions Care Chemicals and Nutrition & Health
- Nutrition & Health comprises products and system solutions for the nutrition and health market as well as for the fragrances and flavors industry
- The Care Chemicals division comprises products and system solutions for cleaning, cosmetics and hygiene