Cosmoquimica reaches agreement with Manuchar

Cosmoquimica has reached an agreement for the sale of 100% of Cosmoquímica Indústria e Comércio Ltda and Cosmolog Logística Ltda shares to Manuchar Group.

Jayme Marmelsztejn, Cosmoquimica’s president, commented on the deal: “After more than five decades of services to our clients, and having reached a relevant position in the chemical distribution market in Brazil, I am sure to have found in Manuchar Group the ideal partner to continue the path that Cosmoquimica/Cosmolog have reached so far. The growth we deserve will be potentiated by the synergy that we have found in Manuchar’s people, making this union a force that will allow this growth to happen. I am very happy that this has been possible. The closing of this agreement will only take place after CADE’s approval.“

“I am glad we were able to sign this contract that will bring great opportunities and development for both Manuchar and Cosmoquimica/Cosmolog people. This is an investment that will allow Manuchar to improve its position in the Brazilian market, as it will add Cosmoquimica and Cosmolog’s infrastructure and expertise in the distribution of pharmaceutical, cosmetic, food and liquid products to the global reach and market experience of Manuchar. As the transaction is still subject to approval by the Administrative Council for Economic Defense (“CADE”), the companies will continue to operate independently until clearance is obtained”, the CEO of Manuchar Brasil, Renata Agualuza, added.

 Cosmoquimica and Cosmolog’s operations continue as normal, with a focus on providing its wide range of customers with high quality, chemical products and unique services.

 As the closing of the agreement between Manuchar’s shareholders and Cosmoquimica and Cosmolog is subject to approval by CADE, the Brazilian competition authority, the companies will continue to operate independently until clearance is obtained.