World leading French industrial minerals group Imerys SA has bought Greek bentonite producer S&B for a maximum purchase price of 558 million euros, it was revealed today.
Imerys said the deal represented a “strategic combination for the integration of the main activities of S&B.” The deal between S&B and Imerys was sealed in Paris following six months of negotiations.
Imerys, a French multinational company operating in the production and processing of industrial minerals, announced yesterday the integration of the main activities of the Greek industrial minerals company, which belongs to Kyriakopoulos family.
Following the agreement, the Greek company is expected to control 4.5% of the French company while S&B president Odysseas Kyriakopoulos is expected to become a member of Imerys’ board of directors.
S&B utilizes the multiple properties of industrial minerals to offer a portfolio of customized solutions across a broad range of industry applications. The company is active in Greece for 80 years and recently grown into an international group of more than 40 companies with sales in 76 countries across the globe.