DL Chemical finalizes $2.5B Kraton acquisition

South Korea's DL Chemical Co. has completed the $2.5 billion, previously announced acquisition of U.S. specialty polymer manufacturer Kraton Corp.

In a March 15 statement, Kraton said the merger enables it to strengthen global presence and leverage manufacturing capabilities of DL Chemical in Asia.

Financially, the acquisition will allow Kraton to further invest in "industry-leading sustainable innovation," it added.

Effective March 15, senior vice presidents Marcello Boldrini and Holger Jung will lead Kraton as co-chief executive officers, overseeing Kraton's chemical and polymer segments, respectively.

"DL Chemical provides the financial strength and the growth-oriented focus that allows Kraton to further invest in innovation," said Jung upon the completion of the deal.

Based in Seoul, DL Chemical is a subsidiary of DL Holdings, formerly known as Daelim Industrial.

In March 2020, Daelim Industrial acquired Kraton's Cariflex polyisoprene products business for $530 million.