Univar announces that it will acquire Eral-Protek
04 January 2011
Global chemical distributor Univar Inc. has announced that it has agreed to acquire Turkish chemical distributor, Eral-Protek, with the deal expected to close in February this year.
The reasoning behind the acquisition is based upon the fact that Univar sees Turkey as an important market for its business; with a population of more than 77 million people and its strong economic growth present significant opportunities for the business. It is also an important logistical and cultural bridge between Univar’s European activity and its growing Middle Eastern and African business, the company says.
According to the company statement, the acquisition, together with the Istanbul and Izmir operations of Basic Chemical Solutions, L.L.C., whose global business was acquired by Univar in December, will immediately give Univar 'a solid local presence in the region'.
“Eral-Protek is a very impressive company with a great reputation in the market. It has strong competencies in a variety of areas and works closely with customers to provide support and solve technical problems, very much in line with our approach at Univar,” says John van Osch, President, Univar Europe, Middle East and Africa. “It is also very rigorous in terms of best practice and corporate governance which will facilitate integration into Univar.”
“The chemical distribution sector in Turkey is very fragmented, leaving a clear opportunity for a distributor with truly international reach,” explains Ömer Aral, founder of Eral-Protek.