DOWNERS GROVE, Ill. and GREENWICH, Conn., Nov. 3, 2015 /PRNewswire/ -- Univar Inc. (NYSE: UNVR) ("Univar") announced today that its wholly-owned subsidiary, Univar USA Inc. ("Univar USA"), has acquired all of the outstanding stock of Arrow Chemical, Inc. ("Arrow Chemical"), an importer and distributor of active pharmaceutical ingredients (API) and other specialty chemistries in the U.S. market.
Founded in 1982, Arrow Chemical sources a broad range of APIs, and nutritional and cosmetic ingredients from a broad network of suppliers in Asia, Western Europe, and the U.S. The company specializes in fine, niche chemistries, and works with customers and suppliers across the world in third-party manufacturing, custom chemical synthesis, finished dosage, and Abbreviated New Drug Application (ANDA) developments. Arrow Chemical is based in Greenwich, Conn., and services customers with truck, rail, and tanker deliveries through a nationwide third-party distribution network.
"We see strong growth opportunities for Univar in the pharmaceutical and nutraceutical market, and continue to focus our commercial capabilities for delivering a total solution set of products and services to customers," said Univar President and Chief Executive Officer Erik Fyrwald. "Arrow Chemical has a strong base business with key pharmaceutical manufacturers and has built a solid global network of quality and reputable ingredient producers. This acquisition enhances the value we can deliver to our customers by expanding our existing offering with a complementary portfolio of APIs and other specialty ingredients essential to the formulation of generic and over-the-counter pharmaceuticals."
"For more than 30 years, Arrow Chemical has been a business built around delivering outstanding service and value to our customers," said Gary Trief, President, Arrow Chemical. "As we looked ahead to the future, we saw Univar as the ideal opportunity for providing the resources, talent, and unique global reach to expand and enhance what we can currently offer to our customers and suppliers. We look forward to leveraging the best of Arrow Chemical to help build a leadership role for Univar within the generic and OTC pharmaceutical ingredient market."
About Univar Inc.
Founded in 1924, Univar is a global distributor of specialty and basic chemicals from more than 8,000 producers worldwide. Univar operates more than 700 distribution facilities throughout North America, Western Europe, the Asia-Pacific region, and Latin America, supported by a global network of sales and technical professionals. With a broad portfolio of products and value-added services, and deep technical and market expertise, Univar delivers the tailored solutions customers need through one of the most extensive chemical distribution networks in the world. Univar is Chemistry DeliveredSM.
This press release includes "forward-looking statements," including with respect to the proposed initial public offering, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
SOURCE Univar Inc.