Manuchar, Belgium, signs agreement to acquire chemical distributor Proquiel Quimicos

Manuchar, a global chemical distributor headquartered in Antwerp, Belgium, has entered into an agreement to acquire a majority stake in Proquiel Químicos. The acquisition is in line with Manuchar’s ambition to strengthen its leading chemical distribution platform and expand its product portfolio. The integration will take place immediately once antitrust approval is obtained.

Founded in 1985 by Eduardo Latorre, Proquiel Químicos specializes in chemical distribution, serving a wide range of industries. Proquiel’s comprehensive portfolio includes solutions for mining, water treatment, fertilizers, aquaculture, animal and human nutrition, home care and industrial applications.

Committed to quality and innovation, Proquiel delivers reliable, effective solutions to meet the needs of more than 1,000 active customers. With five strategically located offices in Chile and more than 150 dedicated professionals, Proquiel’s expert team ensures customer satisfaction through market-leading service and technical support.

Manuchar has 2,800 employees worldwide. Headquartered in Antwerp, Belgium, the company operates a local chemical distribution network in North and Latin America, Africa, Europe, the Middle East and Asia. Manuchar has been present in Chile since 2004, operating from its regional headquarters in Santiago and three other offices and operations.

The acquisition of Manuchar is expected to be completed in the fourth quarter of 2024, subject to the approval of the competition authorities.

After the acquisition, the company will enter a new phase with a management team composed of Carlos San Martin and Claudio Reyes, led by General Manager Eduardo Latorre Salas.

Philippe Huybrechs, CEO of the Manuchar Group, said: "The partnership with Proquiel Químicos fits perfectly with our M&A strategy. Proquiel is a mature and highly diversified business with exposure 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. Manuchar intends to play a leading role in the consolidation of the global chemical distribution landscape. We are pleased to welcome Proquiel Químicos to our Manuchar Group."

Eduardo Latorre, CEO of Proquiel Químicos, said: "This alliance, with the help of Manuchar's global leadership and Proquiel Chile, will allow us to consolidate our position in the Chilean market and expand our capabilities. This is in line with our mission to be a reliable supplier that provides solutions based on customer needs, with high quality standards and competitive values, and with flexible and timely services."