Brazilian buy for Italmatch
Italian-based speciality chemicals group Italmatch has signed a binding agreement to purchase the majority of Alcolina, a Brazilian company specialised in water treatment for bioethanol, sugar production and industrial applications, including paint, pulp and paper. Terms were not disclosed.
Alcolina has two manufacturing sites at Cravinhos and Rio Lago, 80 employees and it had a turnover of €35 million in 2023. Italmatch said that the company is “strongly complementary” to its own current product portfolio. The company now generates 5% of its sales in Latin America.
“Through the acquisition of Alcolina we strengthen our water portfolio becoming leader in industrial processes additives for niche but growing end markets, like sugar and bioethanol,” said CEO Sergio Iorio. “We see tremendous value and synergies between Italmatch and Alcolina.”
Italmatch has been active in Brazil since 2017, with the creation of the local subsidiary being followed by the acquisition of Sudamfos do Brasil. More recently, it signed a collaboration and licence agreement for SugarMaxx, a technology for the use of chemicals in the colour stabilisation of cane sugar.