1.75 billion dollars! Dupont acquires Spectrum Plastics Group

Dupont announced on May 4 that it had entered into a definitive agreement with AEA Investors to acquire Spectrum Plastics Group for $1.75 billion. The transaction is expected to close by the end of the third quarter of 2023.

Spectrum provides materials and technology for specialty medical devices and components, including extruded medical tubing, catheter technology, medical balloons, flexible packaging and film. The fast-growing critical therapeutic areas of structural heart disease, electrophysiology, surgical robotics, and cardiovascular are strategic priorities for Spectrum. Currently the company has more than 2,200 employees.

The Spectrum is fully aligned with DuPont's strategic goal of providing innovative specialty materials and solutions to end markets with long-term growth trends and attractiveness, DuPont said.

Dupont believes the deal will strengthen its position in the fast-growing and low-cyclical healthcare market. After the acquisition, about 10% of DuPont's combined revenue will come from the healthcare business.