Univar Announces Agreement to Acquire Earthoil
DOWNERS GROVE, Ill. and BURY ST. EDMUNDS, England, May 8, 2018 /PRNewswire/ -- Univar Inc. (NYSE: UNVR) ("Univar"), a global chemical and ingredient distributor and provider of value-added services announced today that its wholly owned subsidiary, Univar Ltd., has reached an agreement to acquire Earthoil ("Earthoil Plantations Limited"), a subsidiary of Treatt plc, the London-listed manufacturer and supplier of innovative ingredient solutions for the flavor, fragrance, beverage, and consumer products industries. In 2017, the Company generated approximately $11 million in annual sales. The acquisition is expected to close at the end of May 2018.
Earthoil is a supplier of pure, organic, fair trade essential and cold-pressed vegetable seed oils used in the naturals, organic beauty, and personal care markets. The Company has well-established relationships with leading international personal care brands and provides brand owners with naturally sourced products and ingredients such as marula, moringa, argan, avocado, baobab and other natural vegetable and essential oils. Vegetable-origin and naturally-derived green and ethical ingredients are a frequent consumer demand in the beauty and personal care market.
"Earthoil presents us with an attractive opportunity to add a natural ingredient product portfolio that we can leverage across our growing customer base in the European and global natural beauty and personal care market," said Nick Powell, Univar's president of EMEA. "Earthoil and Univar share a commitment to develop ethically and socially responsible ingredients for our customers as well as our key supplier partners."
Richard Eyles, Earthoil general manager, commented "I'm really excited about this new chapter in the story of Earthoil. Over the last decade Earthoil has gained a justified reputation for supplying sustainable, organic oil ingredients for the personal care sector. The synergistic combination of Univar's global sales reach, distribution expertise and formulation laboratories, coupled with Earthoil's expertise in sourcing its provenance-rich range of essential oils and vegetable oils, will benefit our valued customers."
Founded in 1924, Univar (NYSE: UNVR) is a global chemical and ingredient distributor and provider of value-added services, working with leading suppliers worldwide. Supported by a comprehensive team of sales and technical professionals with deep specialty and market expertise, Univar operates hundreds of distribution facilities throughout North America, Western Europe, Asia-Pacific and Latin America. Univar delivers tailored customer solutions through a broad product and services portfolio sustained by one of the most extensive industry distribution networks in the world. For more information, visit www.univar.com
Earthoil specializes in the supply of pure, organic, fair trade essential and cold pressed vegetable seed oils. Ethical, fair and sustainable trade is at the heart of Earthoil. The company offers an extensive product portfolio of natural raw materials to a wide range of organizations within the personal care sector.
Through an integrated supply chain, we deliver high-quality organic, fair trade ingredients by maintaining clear operational standards in growing, handling, storage and distribution. Earthoil's experience and reputation in the marketing of essential and pressed seed oils is underpinned by our direct experience in farming and extraction. We also work closely with certifiers, processors and growers to ensure our products meet the most exacting quality standards. Earthoil's organic and fair trade certified products are supplied worldwide.
Earthoil is an expert in certified organic oils, and can help develop new market opportunities for both established and unique oils from around the world.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
CONTACT: Investor Relations, David Lim, +1 844-632-1060, IR@univar.com OR Media Relations, Dwayne Roark, +1 331-777-6031, firstname.lastname@example.org
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SOURCE Univar Inc.
Company Codes: NYSE:UNVR