SAN FRANCISCO, April 2, 2025 /PRNewswire/ — Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Hitoshi Kawahara) has determined to procure Nelumbo Inc. (Headquarters: Hayward, California, USA; CEO: Liam Berryman; hereinafter “Nelumbo”), an organization with distinctive fabrics generation for floor amendment. The acquisition value has now not been disclosed.
Background of the Acquisition
Nelumbo used to be based in 2016 as a generation start-up out of College of California, Berkeley and has been exploring the applying and sensible usefulness of numerous substrate floor amendment applied sciences. In 2023, we entered into an “Exclusive Partnership Agreement” with Nelumbo and feature been running in combination to use the skin amendment generation to fibers and alternative polymer merchandise.
Via this collaboration, we evaluated Nelumbo’s generation and concluded that it has finest possible to support the capability of substrate surfaces on a large territory of substrates, together with aqua repellency, with out the use of PFAS and alternative chemical compounds which can be increasingly more regulated.
The Kuraray Workforce has located “Innovation Starting with Networking” as some of the 3 demanding situations in its medium-term control plan, PASSION 2026, and is operating to form untouched companies. This generation will strengthen and enlarge to Kuraray’s bottom of polymer chemistry, artificial chemistry, and alike peripheral applied sciences and lend untouched worth to the marketplace.
Define of Received Corporate
Corporate identify: Nelumbo, Inc.
Head Place of work: Hayward, California, U.S.A.
Consultant: Liam Berryman (CEO)
Established: 2016
Major Trade: Building and alertness find out about of floor amendment generation
Evaluate of the Obtaining Corporate
Corporate identify: Kuraray Co., Ltd.
Head place of work: Chiyoda-ku, Tokyo
Consultant: Hitoshi Kawahara, President and Consultant Director
Established: 1926
Capital: 89 billion yen (as of December 31, 2024)
Major companies: Build and sale of resins, chemical compounds, fibers and textiles, activated carbon.
The purchase shall be carried out thru Kuraray’s U.S. subsidiary Kuraray Holdings U.S.A., Inc. Houlihan Lokey served as unique monetary marketing consultant to Nelumbo
While Outlook
This switch isn’t anticipated to have a subject material affect on Kuraray’s consolidated efficiency. In the future, we can promptly expose any issues requiring announcement, corresponding to revisions to income forecasts.
SOURCE Nelumbo Inc.
