May 19 2016, David R Brown
Ravago continues to expand its chemical distribution business with the takeover of Campi y Jove
The Belgian polymer and chemical distribution group, Ravago has become the full owner of Spanish chemicals distributor Campi y Jové headquartered in Barcelona. Ravago already held a 47.4% stake in the business and have reached an agreement with brothers Ramon and Carlos Jové to acquire the outstanding shares. The purchase price has not been disclosed.
We think that a chemical distribution and blending business is the natural evolution for the Ravago Group
Theo Roussis
CEO of Ravago SA
Founded in 1923, Campi y Jové is a family business, in the third generation of family ownership, covering countries in the south of Europe, notably Spain and Portugal, but also North Africa (Maghreb) and Western Africa. The company has 135 employees and spread a storage capacity of 180,000 tons over three offices in Catalonia, Madrid and Navarra. Campi y Jove reported revenues of more than EUR 270 million in 2015.
The deal is believed to exclude Campi y Jové's sulphonating manufacturing plant in Barbastro which produces a range of surfactants as well as the Barentz Campi y Jové joint venture.
“In addition to the progressive and solid growth of our plastics business, we think that a chemical distribution and blending business is the natural evolution for the Ravago Group,” said Ravago SA CEO Theo Roussis. “I can proudly say that we are a service-oriented organization, with dedicated teams of chemical experts. We maintain a commercially entrepreneurial approach with the flexibility to tailor our practices to the needs of our strategic supplier base.”
Ravago has been growing its presence in specialty chemicals distribution and has bought four other European specialty chemical distributors since 2013, including Chemres (Austria), Veltro (Greece) and Innovia (UK). In March 2016 Ravago entered the North American chemical distribution market with the acquisition of TH Hilson Co., a specialty chemicals distributor in Wheaton, Illinois.
About the Ravago Group
Ravago is a privately owned multinational company founded in 1961 which provides distribution, resale, compounding and recycling services for plastic and elastomeric raw materials through a broad network of 200 regional sales offices and production locations. The company is headquartered in Arendonk, Belgium and Orlando Florida. Total Group sales amount to around EUR 6.0 billion and the group employs over 5,500 people.
Source(s): Chemagility