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Richmond-based Carpenter acquires Belgian foam manufacturer for $468m

June 20, 2023

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By: From a press release

Richmond, Va. — Carpenter Co., one of the world’s largest producers of comfort products, is pleased to announce that it has completed the acquisition of Recticel N.V.’s Engineered Foams Division, which includes the former Foam Partner and Otto Bock operations. The acquisition creates the world’s largest vertically integrated manufacturer of polyurethane foams and specialty polymer products.

Recticel, a Belgian company with origins tracing back to 1778, comprises people, offices and production facilities in Europe, Asia, Africa and North America. The transaction allows Carpenter to expand its geographic footprint, explore new product lines and add new capabilities to the industry leader.

Brad Beauchamp, CEO of Carpenter Co., expressed, “We are very excited to welcome the employees of Recticel, Foam Partner and Otto Bock into Carpenter. We believe that combining these great businesses with ours will result in the best flexible foam company throughout all market segments and geographic locations. 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.”

Both Carpenter and Recticel have demonstrated a commitment to innovation, sustainability and continuous improvement. United together, the combined organization will work towards a shared purpose: to enhance the quality of life for everyone through its products and services.

About Carpenter Co.
Founded in 1950, Carpenter Co. is one of the world’s largest producers of comfort products. As an innovator, manufacturer, and supplier of foam, fiber, and chemicals, the company strives to make the world healthier, safer, and more comfortable.