Italmatch Acquires Majority Stake in Brazil's Alcolina

Italian specialty additives maker Italmatch Chemicals has agreed to buy a majority stake in Alcolina, a Brazilian chemicals company specializing in bioethanol, sugar production and water treatment for industrial applications. Financial details of the deal were not disclosed.

Italmatch said that through its global presence and sales organization, it will help Alcolina expand into international markets from the Far East and India to Europe, the Middle East and Africa.

Alcolina has two production sites in Cravinhos and Rio Largo, has 80 employees and a turnover of 35 million euros in 2023.

Italmatch founder and CEO Sergio Iorio said that with this acquisition, Italmatch Chemicals is strengthening its presence in the Latin American market and confirming and strengthening its overseas growth and development strategy. Italmatch has been active in Brazil since 2017, creating the local subsidiary Italmatch Do Brazil and subsequently acquiring Sudamfos do Brazil.

"We consider the Latin American market, which currently accounts for around 5% of our sales, to be a market with huge potential. With the acquisition of Alcolina, We strengthened our water portfolio to become a leader in industrial processing additives for niche but growing end markets such as sugar and bioethanol." Sergio added.