US speciality chemicals distributor Univar Solutions is to acquire Turkish counterpart Kale Kimya.
Established in 1975, the Istanbul outfit has formulation laboratory capabilities and technical expertise as well as an extensive product portfolio of beauty and personal care products.
These include surfactants, actives, emulsifiers, preservatives, UV filters, fragrances, polymers, conditioners, esters and emollients.
"This acquisition further progresses our strategy to grow our Ingredients and Specialties business with a leading company that builds on and adds to our strengths, geographic footprint and product portfolio," said Nick Powell, Univar president of Global Ingredients & Specialties.
"I am delighted to soon welcome Kale Kimya to the Univar Solutions family. Their experience and knowledge will support our customers in the region, as we continue to capitalize on changing consumer trends in the marketplace,” he added.
Kale Kimya CEO Birgen Kaleağası Özemre said: "This acquisition is a great fit between two companies that share market-leading reputations, expert technical support, a spirit of innovation and relentless dedication to exceptional customer service.
“This will support the growth of our people and products even further, and I look forward to becoming a unified company with Univar Solutions."
Terms of the transaction were not disclosed. Closing of the acquisition is subject to certain regulatory approvals and is expected to be completed within Q1 2023.
