Hallstar acquires specialty chemical maker in Brazil
U.S.-based specialty chemical manufacturer Hallstar headquartered in Chicago, Ill., has acquired Fortinbrás, a specialty chemical manufacturer based in Jaguariúna, São Paulo, Brazil. Terms of the deal were not disclosed.
The acquisition is the latest move in Hallstar’s global expansion. The acquisition of Fortinbrás increases Hallstar’s presence in the emerging market of Brazil and greater Latin American region.
“Fortinbrás will help Hallstar broaden its geographic reach,” said John Paro, chairman, president and CEO of Hallstar. “This strategic addition represents an opportunity to acquire a high quality business in a substantial market with strong future potential.”
“In addition to common operating philosophies, the overlap of key end markets between the two companies makes for a strong strategic fit,” said Rodrigo Marino, commercial director at Fortinbrás.
While greater regional diversification of manufacturing and customer and technical support are benefits of the acquisition, Fortinbrás’ location also moves Hallstar closer to the source of raw materials, such as exotic butters and oils. These materials are a key component of Hallstar’s robust portfolio of functional natural products. With the addition of the Fortinbrás product portfolio and operational capabilities, Hallstar can offer an even wider range of beauty and personal care ingredients that meet the rising demand for natural products.
Fortinbrás’ complementary expertise in ester chemistry also finds application in industrial and other end-markets, such as textiles and lubricants.