Acquisition enhances the Company's extensive Bulk Chemical Distribution offerings, and operational and logistics capabilities to meet growing customer needs
DOWNERS GROVE, Ill., Sept. 5, 2023 /PRNewswire/ -- Univar Solutions Inc. ("Univar Solutions" or the "Company"), a leading global solutions provider to users of specialty ingredients and chemicals, today announces the acquisition of FloChem Ltd. and certain of its affiliates ("FloChem"), an industry leader in the distribution of chemicals and related dispensing systems in Eastern Canada. The acquisition gives the Company access to new market segments, increased market position on key in-demand products, and new service capabilities.
FloChem is a distributor of commodity and specialty chemical solutions from North American manufacturers, including caustic soda, hydrochloric acid, phosphoric acid, hydrogen peroxide, bleach and sulfuric acid. Other offerings include products serving a variety of disinfectant and cleaning formulations in wastewater and water treatment; pool and spa; mini-bulk offerings; and food and beverage, to name a few.
"As an industry leader in chemical distribution and dispensing systems, FloChem is uniquely positioned within our Canadian market to expand our bulk chemical distribution (BCD) network while expanding our access to some of the most widely used industrial chemicals and services," said David Jukes, president and CEO of Univar Solutions. "This acquisition demonstrates our continued focus on our growth strategy and strategic imperatives to drive success now and into the future."
FloChem also offers a variety of value-added services, including specialty formulas/blends, custom packaging, and bulk freight service through a dedicated private fleet of trucks and tanker trailers.
"Responsiveness, reliability and safety are all hallmarks of our commitment to customers and shared values between our two companies," said Jim Holcomb, president of North America and chemicals and services for Univar Solutions. "The addition of FloChem's value-added services helps us continue our focus on service excellence while also opening the doors to several new markets, increased local capabilities with the addition of MiniBulk, and greater flexibility to manage logistics in Eastern Canada."
"We couldn't be more pleased to join a leading global solutions provider that aligns so well with our company, our values, and our culture," said Terry Tucker, CEO and president for FloChem. "This agreement represents a great step toward increased collaboration with our customers and supply chain partners to offer value-added products, solution-driven initiatives, and innovative new processes."
Terms of the transaction were not disclosed.
About Univar Solutions
Univar Solutions is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at univarsolutions.com.
About FloChem
FloChem is an industry leader in the distribution of chemicals and related dispensing systems. Founded in 1992, FloChem works in collaboration with its customers and supply chain partners to offer value-added products, solution-driven initiatives and innovative new processes. FloChem includes its own freight division with in-house trained drivers to service customers as needed. To learn more, visit flochem.com.
Forward-Looking Statements and Information
This communication contains "forward-looking statements" under applicable law regarding financial and operating items relating to the Company's business. Forward-looking statements generally can be identified by words such as "believes," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates," "anticipates" or other comparable terms. All forward-looking statements made in this communication are qualified by this cautionary language.
Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control, that could result in expectations not being realized or could otherwise materially and adversely affect the Company's business, financial condition, results of operations or cash flows. Although the forward-looking statements are based on what management believes to be reasonable assumptions, we caution you that the forward-looking information presented in this communication is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this communication. For additional information regarding factors that could affect the Company, please see the Company's most recent annual report and other financial reports, including the information set forth under the caption "Risk Factors." Any forward-looking statements represent the Company's views only as of the date of this communication and should not be relied upon as representing the Company's views as of any subsequent date, and the Company undertakes no obligation, other than as may be required by law, to update any forward-looking statement.
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