The Chem Ledger

A Colorful Union: Sudarshan Chemical Acquires Heubach Group

Karan Maindan

Karan Maindan

— 1 min read

Sudarshan Chemical Industries Limited (SCIL), established in 1952, is India’s top and the world’s third-largest color manufacturer, with a market cap of ₹76.31 billion and a presence in 85+ countries.

Last week, SCIL announced a deal with Germany’s Heubach Group to acquire assets and shares, forming a global pigment leader by combining SCIL’s expertise with Heubach’s technology. Heubach, with a 200-year history and €1 billion revenue in 2021-22, became the second-largest pigment player after merging with Clariant in 2022 but struggled financially due to rising costs and high debt, leading to an insolvency filing in April 2024.

The acquisition targets €878 million in annual revenue and involves a cash outlay of €127.5 million (₹1,180 crore) and an additional ₹1,000 crore for working capital and restructuring. The move aims to boost SCIL’s global presence and growth in the pigment market.

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