TAGS: Sealants
Univar Solutions, a global chemical and ingredient distributor and provider of value-added services, announced today that it has acquired Sweetmix Distribuidora de Matérias Primas Industriais Ltda ("Sweetmix"), Brazilian distributors of ingredients and specialty chemicals.
Enhance CASE Market Position
Bringing together both new customers and suppliers as well as agreements with existing Univar Solutions' suppliers, Sweetmix significantly enhances the Company's specialty food ingredients offering in Latin America. The business also enhances Univar Solutions’ position in the local coatings, adhesives, sealants and elastomers (CASE) market. The terms of the transaction were not disclosed.
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Our acquisition of Sweetmix represents an exciting opportunity to accelerate our growth in the Food Ingredients distribution space in Brazil and enhance the value we offer to global suppliers and local customers through a versatile range of ingredients," said Nick Powell, president, Ingredients & Specialties for Univar Solutions. "
Consistent with our strategy to expand Ingredients & Specialties and drive shareholder value creation, we expect this transaction to build on existing successful supplier relationships, and deliver growth, cost synergies, and margin improvement."
Expand Portfolio in Latin America
Jorge Buckup, president of Latin America for Univar Solutions added, "
Importantly, Sweetmix will give us increased scale and serve as an ideal platform for expansion in Latin America with our other recently announced partnerships, including Novozymes and AGT. Sweetmix is a renowned leader in Brazil, and we look forward to partnering with their team to expand our portfolio in Latin America and create even more value for our stakeholders."
Amaury Toledo, co-founder of Sweetmix said, "
We are delighted to join the team at Univar Solutions and expand the reach of our innovative solutions and ingredients for diverse markets. With Univar Solutions' scale, digital infrastructure, world-class technical network, and strong supplier relationships, we will be well-positioned to accelerate our mission and continue to provide customers with differentiated, high-quality products backed by specialized, technical service."
Source: Univar Solutions