Univar Inc., a leading global chemical distributor announced today it has signed an agreement to acquire leading Turkish chemical distributor, Eral-Protek. The deal is expected to close in February.
Istanbul-based Eral-Protek is one of the leading players in the region's mid-size chemical distribution sector and has a strong reputation with more than 25 years' experience in the Turkish market. 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 distributes a wide range of products, including a number of exclusive lines, and has a strong focus on specialty chemicals, which aligns with Univar's own specialty chemical offering. In particular it distributes into the rubber, coating, construction, plastic and composite industries.
Eral-Protek's highly skilled employees will be an asset to Univar. These include sales teams made up of trained chemical engineers and one of the best marketing teams in the industry in Turkey. This fits very well with Univar, whose strong sales and marketing teams complement chemical producers and create value for customers. Univar also provides technical expertise in application development, excellence in logistics support, and outstanding customer service to help its partners grow their business.
Turkey is an important market for Univar; its 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.
Once the deal has been completed, Univar will focus on introducing new suppliers, products and services to this market, particularly in the coatings, personal care, food and pharmaceutical sectors.
"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 Omer Aral, founder of Eral-Protek. "The business we have built in Turkey over the last 25 years will provide a very strong platform for Univar to expand its operation into the region. Their international capabilities and good standing in the market will create a very compelling proposition for customers across many sectors."
Source: http://www.univar.com/