DOWNERS GROVE, Ill., Jan. 23, 2023 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a leading global solutions provider to users of specialty ingredients and chemicals, announced today that it has signed an agreement to acquire leading Turkish specialty chemicals distributor Kale Kimya.
First established in 1975, Kale Kimya offers best-in-class formulation laboratory capabilities and technical expertise as well as an extensive product portfolio of beauty and personal care products, and home and industrial cleaning products, including surfactants, actives, emulsifiers, preservatives, UV filters, fragrances, polymers, conditioners, esters and emollients.
"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 & Specialties. "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 capitalize on changing consumer trends in the marketplace."
Birgen Kaleağası Özemre, CEO, Kale Kimya, said: "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. This will support the growth of our people and products even further, and I look forward to becoming a unified company with Univar Solutions."
Terms of the transaction were not disclosed. Closing of the acquisition is subject to certain regulatory approvals and is expected to be completed within Q1 2023.
Headquartered in Istanbul, Türkiye, Kale Kimya is a leading regional specialty chemicals distributor that is a well-known leader in the Beauty and Personal Care and Home and Industrial Cleaning markets. Having exclusive representation of over 20 worldwide known producers, Kale Kimya serves valuable customers with an extensive technical support with fully equipped application laboratories and wide range of logistic options through local warehouses in Turkey and the region. Kale Kimya plays a key role in the chemical industry supply in Turkey and over 30 export countries.
Learn more at https://www.kalekimya.com
Univar Solutions (NYSE: UNVR) is a leading global commodity and specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together.
Learn more at univarsolutions.com.
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 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 the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo Solutions, Inc., or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results 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, "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 the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.
SOURCE Univar Solutions Inc.