Distributor Manuchar increasing presence in Chile with Proquiel Quimicos acquisition

HOUSTON (ICIS)–Belgium chemical distributor Manuchar announced it has reached an agreement to acquire a majority stake in Proquiel Quimicos.

While financial terms were not disclosed, Manuchar said this acquisition fits their ambition to strengthen its distribution platform and broaden its product portfolio.

Established in 1985, Proquiel Quimicos specializes in chemical distribution serving a wide range of industries with a comprehensive portfolio including solutions for mining, water treatment, fertilizer, aquaculture and industrial applications.

The company has five strategic locations across Chile serving more than 1,000 active customers.

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.

“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,” said Philippe Huybrechs, Manuchar Group CEO.

“Manuchar intends to take a leading role in the consolidation of the global chemical distribution landscape. We are happy to welcome Proquiel Quimicos into our Manuchar Group.”