Manuchar reaches an agreement to acquire Cosmoquimica and Cosmolog
Manuchar aims to strengthen its footprint and product offering in Brazil through an agreement to acquire Cosmoquimica and Cosmolog
São Paulo. July 01, 2022. Manuchar, a leading distributor of chemicals in emerging markets with headquarters in Antwerp, Belgium, announces it has reached an agreement to acquire 100% of the shares of Cosmoquímica Indústria e Comércio Ltda. and Cosmolog Logística Ltda. in Brazil. This acquisition supports Manuchar’s plans to strengthen its leading chemical distribution platform across emerging markets and to expand its global network, both geographically and in product offering.
Cosmoquímica, established in 1967, is a chemical distributor offering a wide range of national and imported chemical products. Cosmolog is specialized in logistic services and offers general product warehousing, climate-controlled warehouse and storage tanks with capacity for approximately two million litres. Both companies are active in diverse end markets like pharmaceuticals, cosmetics, food and technical sectors and are headquartered in São Paulo, Brazil.
Manuchar employs 2.250 employees worldwide. From its headquarters in Antwerp, it operates a local distribution network across Latin America, Africa, the Middle East and Asia. It handles over 5 million metric tons of goods, generating circa 2.5 billion USD in sales with local operations in over 35 countries and 125 locations. Manuchar has been present in Brazil since 1993 and today covers the entire country. Its 300 employees are based in its headquarters in Rio de Janeiro and five other offices and operational sites in Recife, São Paulo, Curitiba, Imbituba and Blumenau.
The closing of the agreement between the shareholders of Manuchar and Cosmoquimica and Cosmolog is subject to the approval of the Brazilian Antitrust Authority ("CADE") and the companies will continue to operate independently until clearance is obtained.
Renata Agualuza, CEO Manuchar Brazil: “I am glad we have been able to sign this contract that will bring great opportunities and development to the Manuchar and Cosmoquimica/Cosmolog people. This is an investment that will allow Manuchar to improve its position in the Brazilian market, as it will add the infrastructure and expertise of Cosmoquimica and Cosmolog in the pharmaceutical, cosmetic, food and liquid products distributions segments to the global reach and market experience of Manuchar.”
Philippe Huybrechs, CEO Manuchar Group: “The acquisition of Cosmoquimica and Cosmolog fits perfectly into our M&A strategy. Manuchar intends to take a leading role in the consolidation of the global chemical distribution landscape. We are happy to welcome Cosmoquimica and Cosmolog to our Manuchar Group”.
Jayme Marmelsztejn, Managing Director Cosmoquimica: "After more than five decades of services to our clients and having reached a relevant position in the chemical distribution market in Brazil, I am sure that I have found in the Manuchar group the ideal partner to continue the path that Cosmoquimica/Cosmolog have reached so far. The growth that we have realized will be enhanced by the synergy that we have found in Manuchar's people, making this union a strength that will allow to continue to grow. I am very happy that this has been possible. The closing of this agreement will only take place after CADE's approval."
