March 1 2021, David R Brown
Ravago Group reaches agreement with Grupo Indukern to acquire its chemical distribution business, Indukern
The Ravago Group has reached an agreement with the Indukern Group for the sale of Indukern. Indukern is a distributor of additives for animal nutrition and health, ingredients for food, flavourings and fragrances, and APIs and pharmaceutical excipients. The deal was closed after Grupo Indukern had received several offers for its chemical business.
Taking this decision has not been easy because Indukern was the first company in our business group and the start of all we are today
José Luis Díaz-Varela
President of Grupo Indukern
The addition of Indukern significantly strengthens Ravago Chemicals specialty chemicals offering. With this agreement, all Indukern's chemical business in Europe (HQ Spain, France, Switzerland, Portugal), Latin America (Brazil, Colombia, Mexico) and China, will be 100% acquired by the Ravago Group. The move supports Ravago's goal of a becoming a leading player in the specialty chemical distribution sector. Ravago Chemicals is already active in markets such as CASE, PU & Polymers, Water, Life Science, Care and Base Chemicals, amongst others and has been growing rapidly over the last few years. Indukern's 520 employees, of which 171 are located in Spain, will all be transferring to Ravago Chemicals.
For Grupo Indukern this marks a major change in direction, as Indukern contributed nearly half of the Group's turnover, as they look to double down on their other two areas of business: Kern Pharma (human health) and Calier (animal health).
“Taking this decision has not been easy because Indukern was the first company in our business group and the start of all we are today. However, it is a step we must take to concentrate our resources and move at the speed we need to in our future endeavours and investments,” said Grupo Indukern president, José Luis Díaz-Varela.
This final exit from chemical distribution for Grupo Indukern follows the sale of Indukern's industrial chemicals division to Stockmeier in 2019. The deal will be finalized in the coming months, pending the approval of the relevant competition authorities.
About the Ravago Group
Ravago is a privately owned multinational company founded in 1961 which provides distribution, resale, compounding and recycling services for plastic and elastomeric raw materials through a broad network of 285 regional sales offices and production locations acrooss 55 countries worldwide. The company is headquartered in Arendonk, Belgium and Orlando Florida. Total Group sales amount to over EUR 7.5 billion and the Group employs over 7,000 people worldwide. In 2019, Ravago Chemicals had revenues of around EUR 820 million.
Source(s): Grupo Indukern Press Release