Univar Acquires Chemcentral

2007-03-12 | 03:22

Univar N.V. announced that its U.S. subsidiary, Univar USA, has entered into an agreement to acquire Chemcentral Corp. The combined company, according to a press release, will broaden Chemcentral's product lines, its product knowledge and expertise while deepening its supplier and customer relationships in several key customer segments—including personal care. "Chemcentral brings to our combined organization a diverse customer base in North America with a complementary product set that provides significant opportunities for cross-selling amongst our respective customer bases,” said Gary Pruitt, CEO, Univar. “Furthermore, Chemcentral provides Univar an attractive position in a number of rapidly growing international markets where we are currently underserved." The transaction is for a reported $600 million in cash, including assumed debt. The closing is expected to be completed by April 2007, and is conditional upon receipt of certain regulatory approvals, approval by Chemcentral shareholders and other customary closing conditions.