Univar Solutions is set to acquire Turkish specialty chemicals distributor Kale Kimya.
The acquisition will allow the US specialty ingredients and chemicals distributor to service clients locally.
While the terms of the transaction have not yet been disclosed, the deal is expected to be completed before the end of Q1 2023.
"This acquisition further progresses our strategy to grow our ingredients and specialties business with a leading company that builds on and adds to our strengths, geographic footprint and product portfolio," said Nick Powell, president of Global Ingredients and Specialties at Univar Solutions.
"I am delighted to soon welcome Kale Kimya to the Univar Solutions family.
“Their experience and knowledge will support our customers in the region, as we continue to capitalise on changing consumer trends in the marketplace."
Kale Kimya was established in 1975 and is headquartered in Istanbul, Türkiye.
In addition to beauty, the specialty chemicals distributor also formulates home and industrial cleaning products.
These include actives, emulsifiers, preservatives, UV filters, fragrances, polymers, conditioners, esters and emollients.
"This acquisition is a great fit between two companies that share market-leading reputations, expert technical support, a spirit of innovation and relentless dedication to exceptional customer service,” added Birgen Kaleağası Özemre, CEO, Kale Kimya.
“This will support the growth of our people and products even further, and I look forward to becoming a unified company with Univar Solutions."
It comes after Univar Solutions and its German rival Brenntag ended discussions over a potential merger in January 2023.
The company claimed there was no reason for the fall-through.
Brenntag has recently increased its presence in the US, which included the opening of a 33,000sqft production and warehouse facility in Upton, Massachusetts in November 2022.
A new 90,000sqm site also opened in Buenos Aires, Argentina, in December.
Univar Solutions secures foothold in Turkish market with Kale Kimya acquisition
The acquisition comes after Univar Solutions and its German rival Brenntag ended discussions over a potential merger
You may also like
Trending Articles
-
You need to be a subscriber to read this article.
Click here to find out more. -
You need to be a subscriber to read this article.
Click here to find out more.