Italmatch Chemicals to acquire majority stake in Alcolina
Chemical

Italmatch Chemicals to acquire majority stake in Alcolina

Alcolina is a Brazilian chemicals company specialised in water treatment for bioethanol, sugar production and industrial applications

  • By ICN Bureau | January 19, 2024

Global specialty chemical group Italmatch Chemicals signed a definitive agreement to purchase the majority of Alcolina shares.

Alcolina is a Brazilian chemicals company specialised in water treatment for bioethanol, sugar production and industrial applications (including paints and pulp and paper).

Founded 27 years ago, Alcolina has two manufacturing sites in Brasil (in Cravinhos and Rio Lago), 80 employees supported by a network of sales agents, a turnover of 35 million euros in 2023 and is strongly complementary to the Italmatch Chemicals’ current product portfolio.

"With this acquisition, Italmatch Chemicals is strengthening its presence in the Latin American market and confirming and reinforcing its overseas growth and development strategy. Italmatch has been active in Brazil since 2017, with the creation of the local subsidiary Italmatch Do Brasil, followed by the key acquisition of Sudamfos do Brasil. More recently, the Group signed a collaboration and licence agreement for a leading technology development for the Latin American sugar market, “SugarMaxx”, for the use of chemicals in the process of colour stabilization of cane sugar. We consider the Latin American market, that represents ~5% of our sales, as a market with great potential”, comments Sergio Iorio, Founder & CEO of Italmatch Chemicals Group.

"Alcolina is not only a business & synergies opportunity, but also brings value to our sustainability strategy: the company has indeed adopted a strategy of environmental responsibility and awareness that perfectly reflects Italmatch Chemicals’ ESG journey to reduce its footprint and support the green transition, also thanks to the support to bioethanol technology”, comments Maurizio Turci, Group General Manager Corporate of Italmatch Chemicals.

"We are proud to become part of the Italmatch - Bain Capital group. We see tremendous value and synergies in joining forces with Italmatch, thanks to Italmatch leading technology support in the water markets, to grow in Latin America, our “domestic market”, as well as strengthening Alcolina position on the global markets, grabbing opportunities especially in development countries, with interest in developing the bioethanol markets, thanks to Italmatch global presence and strong innovation pipeline” adds Rogerio Barros, General Manager of Alcolina.


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