- Mergers & Acquisitions
KLK OLEO acquires Italian ester producer Temix Oleo
KLK Emmerich GmbH (KLKE), a subsidiary of Kuala Lumpur Kepong Berhad (KLK), under its resource-based manufacturing division known as KLK OLEO, has entered into a definitive agreement to acquire a controlling stake in Temix Oleo SpA.
KLK OLEO is a global integrated oleochemical producer (oleochemical, derivatives and specialty chemicals) with manufacturing sites in Malaysia, Indonesia, China, and Europe. KLK OLEO is the manufacturing division of KLK, a leading international plantations group listed on the Malaysian stock exchange with a market capitalisation of approximately EUR4.8 billion (USD5.07 billion) as of the end of September 2022.
Temix Oleo is an oleochemical company focused on production of esters mainly based on renewable feed stocks, and delivering solutions for the lubricants, cosmetics, ceramics, coatings, rubber and plastics industries.
Temix Oleo is located in Milan, Italy with a production plant in Calderara di Reno, Bologna, employing around 100 people with a turnover of EUR150 million (USD158.33 million) in 2022.
The transaction is expected to be completed by April 2023, subject to regulatory approval and customary closing conditions.
“Temix Oleo’s outstanding reputation is built on their customer-centric and high-quality service business model. We are excited to welcome the Temix Oleo team and their excellent product portfolio to be part of the group of KLK,” said Sriganesh Mathur Subramanian, managing director, KLKE.
“This acquisition is an opportunity for Temix Oleo to continue to grow, in product portfolio and geographic areas, with focus on sustainability and innovation. Being part of the KLK Group, employees can look forward to a bright future,“ said Roberto Cella, managing director, Temix Oleo.