Manuchar signs an agreement to acquire Proquiel Químicos
Acquisition of a majority stake in Proquiel will strengthen Manuchar’s presence in Chile
Santiago. 13th of August 2024. Manuchar, a global distributor of chemicals with headquarters in Antwerp, Belgium, has reached an agreement to acquire a majority stake in Proquiel Químicos. This acquisition fits Manuchar’s ambition to strengthen its leading chemical distribution platform and to broaden its product portfolio. The integration will take place once it is approved by the antitrust authorities.
Established in 1985 by Eduardo Latorre, Proquiel Químicos specializes in chemical distribution serving a wide range of industries. Proquiel’s comprehensive portfolio includes solutions for mining, water treatment, fertilizer, aquaculture, animal and human nutrition, home care and industrial applications.
Committed to quality and innovation, Proquiel delivers reliable and effective solutions tailored to the needs of its more than 1,000 active customers. With five strategic locations across Chile, and over 150 dedicated professionals, Proquiel’s expert team ensures customer satisfaction through market-leading service and technical support.
Manuchar employs 2,800 employees worldwide. From its headquarters in Antwerp, Belgium it operates a local chemicals distribution network across North & Latin America, Africa, Europe, the Middle East and Asia. Manuchar has been present in Chile since 2004, operating via its regional headquarters in Santiago and three additional offices and operational sites.
The closing of the acquisition by Manuchar is expected to occur in Q4 2024, subject to approval by competition authorities.
Following the closing of the acquisition, the company will enter a new phase, with Carlos San Martin and Claudio Reyes in the management team, led by Eduardo Latorre Salas, as general manager.
Philippe Huybrechs, CEO Manuchar Group: “The partnership with Proquiel Químicos fits perfectly with our M&A strategy. Proquiel is a sophisticated and highly diversified business with exposures to attractive end markets. It is highly complementary to Manuchar’s growth strategy in areas such as human nutrition, animal nutrition and mining related to renewable energy. Manuchar intends to take a leading role in the consolidation of the global chemical distribution landscape. We are happy to welcome Proquiel Químicos into our Manuchar Group”.
Eduardo Latorre, CEO Proquiel Químicos: “The leadership of Manuchar worldwide and Proquiel in Chile, empowered by this alliance, will allow us to strengthen our position in the Chilean market and expand our capabilities. This maintains our mission of "being a reliable supplier that generates solutions according to customer needs with high quality standards, competitive values, and providing agile and timely service.”
