Univar Solutions Acquires Leading Distributor Sweetmix to Expand Food Ingredients and CASE Portfolio in Brazil
Univar Solutions Inc. (NYSE: UNVR) has acquired Sweetmix Distribuidora de Matérias Primas Industriais Ltda, enhancing its specialty food ingredients and CASE portfolio in Brazil. The acquisition strengthens Univar's position as a leading distributor in the region, providing new customer and supplier relationships. Key benefits include driving growth, cost synergies, and improved margins. This move aligns with Univar's strategy to expand its Ingredients & Specialties segment while reinforcing existing supplier partnerships.
- Enhanced specialty food ingredients offering in Brazil
- Strengthened position in the local CASE market
- Potential for growth and cost synergies
- Increased scale for expansion in Latin America
- None.
DOWNERS GROVE, Ill., Dec. 1, 2021 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or the "Company"), a global chemical and ingredient distributor and provider of value-added services, announced today that it has acquired Sweetmix Distribuidora de Matérias Primas Industriais Ltda ("Sweetmix"), one of the top five distributors in Brazil of ingredients and specialty chemicals. Bringing together both new customers and suppliers as well as agreements with existing Univar Solutions' suppliers, Sweetmix significantly enhances the Company's specialty food ingredients offering in Latin America. The business also enhances Univar Solutions position in the local coatings, adhesives, sealants and elastomers (CASE) market. Terms of the transaction were not disclosed.
"Our acquisition of Sweetmix represents an exciting opportunity to accelerate our growth in the Food Ingredients distribution space in Brazil and enhance the value we offer to global suppliers and local customers through a versatile range of ingredients," said Nick Powell, president, Ingredients & Specialties for Univar Solutions. "Consistent with our strategy to expand Ingredients & Specialties and drive shareholder value creation, we expect this transaction to build on existing successful supplier relationships, and deliver growth, cost synergies, and margin improvement."
Jorge Buckup, president of Latin America for Univar Solutions, added: "Importantly, Sweetmix will give us increased scale and serve as an ideal platform for expansion in Latin America with our other recently announced partnerships, including Novozymes and AGT. Sweetmix is a renowned leader in Brazil, and we look forward to partnering with their team to expand our portfolio in Latin America and create even more value for our stakeholders."
Amaury Toledo, co-founder of Sweetmix, said: "We are delighted to join the team at Univar Solutions and expand the reach of our innovative solutions and ingredients for diverse markets. With Univar Solutions' scale, digital infrastructure, world-class technical network, and strong supplier relationships, we will be well-positioned to accelerate our mission and continue to provide customers with differentiated, high-quality products backed by specialized, technical service."
About Sweetmix
Founded in 1994, Sweetmix Distribuidora is a pioneer in the introduction of sweeteners and other ingredients in Brazil. The company's history has been guided by growth and innovation in solutions that meet the most diverse demands of the market. Sweetmix is organized in four divisions – Food, Pharmaceutical, Animal Health and Industrial Chemicals –. Learn more at sweetmix.com.br.
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/univar-solutions-acquires-leading-distributor-sweetmix-to-expand-food-ingredients-and-case-portfolio-in-brazil-301435597.html
SOURCE Univar Solutions Inc.
FAQ
What is the purpose of Univar Solutions' acquisition of Sweetmix?
How will the acquisition of Sweetmix impact Univar Solutions' growth?
What benefits does Univar Solutions expect from acquiring Sweetmix?
When was the acquisition of Sweetmix announced?
