Industry News Sponsored by
Univar N.V. announced today that its US subsidiary, Univar USA, has entered into an agreement to acquire Chemcentral Corp. The combined company reportedly will broaden Chemcentral's product lines and its product knowledge and expertise, while deepening its supplier and customer relationships in several key customer segments such as coatings, household & industrial and 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. Furthermore, Chemcentral provides Univar an attractive position in a number of rapidly growing international markets where we are currently underserved," said Gary Pruitt, CEO of Univar in a company press release.
The transaction is for a reported US$600 million in cash, including assumed debt. The closing is expected to be completed by April 2007. The closing is conditional upon receipt of certain regulatory approvals, approval by Chemcentral shareholders and other customary closing conditions.