DOWNERS GROVE, Ill.,
June 1, 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 completed
the acquisition of Turkish specialty chemicals distributor Kale
Kimya.
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. The company 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.
It also exports outside of Türkiye.
Univar Solutions president and CEO, David Jukes, said: "Our investment in Kale Kimya
builds on our strong existing specialty presence in the Turkish
region, and supports our plan to be a leading specialty chemical
distributor in the broader EMEA region."
"This acquisition brings opportunities to extend our supplier
and customer relationships, improve our portfolio and expand our
services within our Life Sciences and Industrial Solutions
verticals," said Nick Powell,
president of Global Ingredients & Specialties for Univar
Solutions. "This is an important step to continue to be at the
forefront of changing trends in the marketplace as well as the
evolving needs of customers."
Birgen Kaleağası Özemre, CEO, Kale Kimya, said: "We see
tremendous growth opportunity for our people, customers and
suppliers as part of Univar Solutions. "The Kale Kimya distribution
team looks forward to working alongside the Univar Solutions team
to unlock our full potential together, while our broader Kale Care
chemicals will continue to focus on production."
Terms of the transaction were not disclosed.
About Kale Kimya
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 Türkiye and the region. Kale Kimya plays a key role
in the chemical industry supply in Türkiye and over 30 export
countries. Learn more at https://www.kalekimya.com
About Univar Solutions
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.
Forward-Looking Statements
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.
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