US-headquartered Vantage Specialty Chemicals has agreed to buy Textron Plimon SLU, a leading producer and processor of natural oils for the personal care, food and chemical industries.
“Located near Barcelona in Granollers, Spain, Textron is focused on supplying high quality, natural oils out of a new, state-of-the-art manufacturing facility that sources oils and seeds from all over the world,” Vantage said in a press release on 4 April.
Textron’s portfolio includes cosmetic oils, food oils, bismuth derivatives, cosmetic ingredients and preservatives.
“This strategic combination builds on Vantage’s existing leadership position in jojoba oil and further establishes Vantage and Textron as premier providers of natural oils to broaden our speciality ingredient solutions for evolving trends in personal care and food,” said Vantage CEO Andy Harris.
Serge Rogasik, senior vice president of Vantage’s personal care business, said the acquisition – expected to close by June – would create a global leader in the increasingly demanding world of traceable and sustainable natural oils for personal care.
As part of the transaction, Textron will spin-off its Spanish distribution business, Plimon, which will remain with the previous ownership group and continue distributing products for Textron.
Textron is the fourth acquisition Vantage has completed since private equity firm HIG Capital acquired it in October 2017. In 2018, it agreed to buy speciality surfactants producer LEUNA-Tenside GmbH.