Manuchar Acquires Proquiel Químicos to Expand its Reach in Chile

Manuchar, a prominent global chemical distributor based in Antwerp, Belgium, has formalized an agreement to acquire a controlling interest in Proquiel Químicos. This strategic move aligns with Manuchar's broader objective of consolidating its position as a leading chemical distribution platform while expanding its product offerings. The acquisition's completion is contingent upon regulatory approval from antitrust authorities.

Founded in 1985 by Eduardo Latorre, Proquiel Químicos has established itself as a key player in chemical distribution, catering to diverse sectors including mining, water treatment, fertilizers, aquaculture, animal and human nutrition, home care, and industrial applications. The company offers a diverse product portfolio encompassing industrial chemicals such as Ammonium Sulphate, Bisphenol A, Calcium Propionate, Boric Acid, and Guar Gum, among others.

Proquiel’s extensive product portfolio is a testament to its commitment to quality and innovation, providing customized and reliable solutions to over 1,000 active clients. With five strategically located sites across Chile and a team of over 150 skilled professionals, Proquiel consistently delivers market-leading service and technical expertise, ensuring high levels of customer satisfaction.

Manuchar, a global leader with a workforce of 2,800 employees, operates from its headquarters in Antwerp, Belgium, managing an extensive chemical distribution network across North and Latin America, Africa, Europe, the Middle East, and Asia. Active in Chile since 2004, Manuchar runs its regional operations from its Santiago headquarters, supported by three additional offices and operational facilities.

The acquisition by Manuchar is expected to be finalized in Q4 2024, contingent on receiving the necessary approvals from competition authorities. Upon closing, the company will enter an exciting new phase of growth and development. Eduardo Latorre Salas will continue to lead the organization as General Manager, ensuring continuity and strategic vision. He will be supported by a strong management team, including Carlos San Martin and Claudio Reyes, both of whom bring valuable expertise and experience to their roles.

Philippe Huybrechs, CEO of Manuchar Group, expressed enthusiasm about the partnership with Proquiel Químicos, highlighting its alignment with Manuchar’s M&A strategy. He described Proquiel as a sophisticated and diversified business with strong positions in attractive markets, including human and animal nutrition as well as mining for renewable energy. Huybrechs emphasized that this acquisition is complementary to Manuchar’s growth strategy and strengthens the company's focus on these key sectors. He also noted Manuchar's broader ambition to lead the consolidation of the global chemical distribution landscape, welcoming Proquiel Químicos into the Manuchar Group as a significant step towards this goal.

Eduardo Latorre, CEO of Proquiel Químicos, expressed his optimism about the alliance with Manuchar, emphasizing how it will enhance their leadership in Chile and strengthen their market position. He highlighted that this partnership aligns with Proquiel’s mission of being a reliable supplier, committed to offering high-quality solutions tailored to customer needs, at competitive prices, with efficient and timely service. Latorre believes that the combined strengths of Manuchar’s global leadership and Proquiel’s expertise in Chile will significantly expand their capabilities and reinforce their dedication to customer satisfaction.