by Purchase adds 245-year-old Belgian company’s people, offices and manufacturing facilities in Europe, Asia and North America to Carpenter’s assets
RICHMOND, Va. — Carpenter Co., a major supplier of foam, fibers and chemicals to the furniture and bedding industries, has completed its $486 million purchase of Recticel N.V.’s Engineered Foams Division.
The company said that the purchase, which includes the former Foam Partner and Otto Bock operations, creates “the world’s largest vertically integrated manufacturers of polyurethane foams and specialty polymer products.”
It accomplishes this by adding the 245-year-old Belgian company’s human resources, offices and production facilities in Europe, Asia and North America to Carpenter’s assets.
“The transaction allows Carpenter to expand its geographic footprint, explore new product lines and add new capabilities to the industry leader,” the company said.
Carpenter Co. CEO Brad Beauchamp said the organization was pleased to welcome the employees of Recticel, Foam Partner and Otto Bock into its operations.
“We believe that combining these great businesses with ours will result in the best flexible foam company throughout all market segments and geographic locations,” he said in a statement. “We believe that this acquisition will bring additional innovations in polyurethane foam beyond our industry leading materials like Serene foam, Hybrid TheraGel memory foam and others. Recticel is also known for their leadership in sustainability and recycling of foam materials and we expect that to pair very well with our own developments on those issues that are facing the industry.”
