Univar Inc., a global chemical and ingredient distributor and provider of value-added services, announced today that its wholly owned subsidiary, Univar Ltd., has successfully completed the acquisition of Earthoil.
Earthoil was a subsidiary of Treatt plc, the London-listed manufacturer and supplier of innovative ingredient solutions for the flavor, fragrance, beverage, and consumer products industries. In 2017, the Company generated approximately $11 million in annual sales.
“The Earthoil acquisition is a perfect example of our disciplined approach to investment as these assets can be leveraged across our personal care vertical in multiple regional segments,” said David Jukes, president and chief executive officer. “The execution of our global strategy includes acquiring specialty products and capabilities that benefit customers around the world.”
Earthoil will become part of Univar’s personal care business and operate as usual while the integration process is completed.
“The successful closure of the Earthoil acquisition is an important step for Univar’s European and global natural beauty and personal care market,” said Nick Powell, Univar’s president of EMEA and APAC. “The acquisition of Earthoil allows us to add a natural ingredient product portfolio and better meet the needs of our customers and key supplier partners.”
“Earthoil is an excellent extension of Univar’s existing natural beauty and personal care product line,” said Richard Eyles, Earthoil general manager. “I’m really excited about this next chapter and look forward to serving our valued customers better by combining Univar’s global sales reach, distribution expertise and formulation laboratories with Earthoil’s expertise in sourcing its provenance-rich range of essential oils and vegetable oils.”
Source: Univar
The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.
Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.
At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.
