Mitsui Chemicals agreed to acquire all of Ultradent Products, a Utah maker of tooth-whitening and restorative dental materials, through a new US holding company. Ultradent had sales of about ¥59.6 billion in 2025 and sells directly to US dental clinics. Regulatory approvals came faster than planned and the deal closed in mid-August, a month ahead of schedule. The deal The buyer is MC Dental Holdings America, a holding company set up under Mitsui Chemicals America, the group's wholly owned US subsidiary. It acquired Ultradent's shares and business assets for a total value of about $900 million, which the companies described as preliminary at signing. Mitsui Chemicals did not disclose how it financed the purchase. Baker McKenzie advised Mitsui Chemicals, and Foley & Lardner advised Ultradent. On the figures in Mitsui Chemicals' disclosure, the price is roughly 2.4 times Ultradent's 2025 sales. About Ultradent Ultradent was founded in 1978 and is based in Utah. It develops, makes and sells dental materials, equipment and instruments, and founder Dan Fischer was its largest shareholder. Excluding discontinued operations, sales grew from $346.0 million in 2023 to $351.8 million in 2024 and $372.1 million in 2025. Operating income was $29.4 million, $25.6 million and $30.9 million in those years, and 2025 net income was $24.0 million. Strategy Mitsui Chemicals wants oral care to become a third earnings pillar within its Life & Healthcare Solutions segment. It targets annual synergies of more than $40 million by fiscal 2030, mainly from cross-selling through Ultradent's and Kulzer's sales networks and from combining their dental materials technology with Mitsui's chemical technology. Its stated goal is to become the No. 2 group in global dental materials. Under the new setup, Ultradent's CEO also serves as CEO of the Kulzer group, and Kulzer's current CEO becomes chief strategy and integration officer of MC Dental Holdings America. Mitsui Chemicals said it will draw up a joint growth strategy, business plan, KPIs and synergy roadmap for the two companies. Approvals and timeline The deal was announced on June 12, 2026, with closing originally expected in September. After competition and investment approvals were obtained, it closed on August 14, 2026, US time. Mitsui Chemicals said the effect of Ultradent becoming a specified subsidiary on its own results would be minor.
