Established in 1985, Proquiel Químicos specializes in chemical distribution serving a wide range of industries. Its portfolio includes solutions for mining, water treatment, fertilizer, aquaculture, animal and human nutrition, home care and industrial applications. Proquiel has five locations across Chile, employs over 150 professionals, and serves more than 1,000 active customers.

The integration will take place once it is approved by the antitrust authorities, Manuchar said. Proquiel’s founder and current CEO, Eduardo Latorre Salas, will lead the new management team as general manager.

This acquisition fits Manuchar’s ambition to strengthen its leading chemical distribution platform and to broaden its product portfolio, the company explained. It has been present in Chile since 2004, operating via its regional headquarters in Santiago and three additional offices and operational sites.

Philippe Huybrechs, CEO of Manuchar, said: “The partnership with Proquiel Químicos fits perfectly with our M&A strategy. Proquiel is a sophisticated and highly diversified business with exposures to attractive end markets. It is highly complementary to Manuchar’s growth strategy in areas such as human nutrition, animal nutrition and mining related to renewable energy. Manuchar intends to take a leading role in the consolidation of the global chemical distribution landscape.”

Eduardo Latorre, CEO Proquiel Químicos, added: “The leadership of Manuchar worldwide and Proquiel in Chile, empowered by this alliance, will allow us to strengthen our position in the Chilean market and expand our capabilities. This maintains our mission of "being a reliable supplier that generates solutions according to customer needs with high quality standards, competitive values, and providing agile and timely service.”

The closing of the acquisition by Manuchar is expected to occur in Q4 2024, subject to regulatory approval.