Oleon gets big in Brazil

Oleochemicals producer Oleon has acquired a majority stake in A. Azevedo Óleos, a Brazilian oleochemical company specialised in castor oil and its derivatives. The company said that this strengthens its position in the rapidly growing South American market. Terms were not disclosed.

“With our strong presence in Europe and Asia, as well as our recent investment in the US, it was crucial to strengthen our foothold in the Brazilian market, where we see long term growth potential, especially in the fields of lubricants and personal care,” said Moussa Naciri, CEO of the Belgium-based firm.

Oleon also stated that A. Azevedo fits in with the sustainable agriculture and industrial practices of its parent firm, Avril, because it works with local farmers to ensure sustainable castor seed farming practices. Castor seed cultivation is a major industry in Brazil, particularly in the northersn state of Bahia.