The transaction is valued at approximately $2 billion.
Univar Inc. and Nexeo Solutions Inc. recently announced they have entered into a definitive agreement for Univar to acquire Nexeo in a cash and stock transaction valued at approximately $2 billion.
“This transformational combination is designed to create the premier global chemical and ingredients distributor, with exciting opportunities for our customers, suppliers, employees and investors,” said David Jukes, Univar president and CEO. “Together, we will drive growth and shareholder value with the largest North American sales force in chemical and ingredients distribution, the broadest product offering, and most efficient supply chain network in the industry. We expect the transaction to be accretive to earnings and cash flow beginning in the first full year post closing and to generate $100 million of annual run rate cost savings by the third year, following close and reduce annual capital expenditures by $15 million immediately."