Oleon Acquires Majority Shares of A.Azevedo Óleos, a Brazilian Oleochemical Company
Last update on Oct 14, 2024
, a subsidiary of Avril and a global provider of natural-based oleochemicals, has taken a significant step in its global expansion with the acquisition of the majority of shares, of A.Azevedo Óleos, a Brazilian oleochemical company specialized in castor oil and its derivatives.This acquisition strengthens Oleon's position in the rapidly growing South American market, particularly in Brazil, and aligns with its long-term strategy for sustainable growth.
Strengthens Oleon’s Position in the Growing South American Market
The acquisition of A.Azevedo Óleos provides Oleon with a key strategic advantage in developing into the South American market, particularly Brazil, which offers substantial growth opportunities. By integrating A.Azevedo Óleos's operations into its strong global network, Oleon is not only expanding into a new region but also enhancing its ability to serve its global customers more effectively. Leveraging A.Azevedo Óleos's diversified product offerings, in particular the reputable castor oil derivatives, also enables Oleon to expand its portfolio and respond to the needs of multiple industries for high-end products made from sustainable raw materials.
'This acquisition is a pivotal moment for Oleon's expansion into South America,' says Moussa Naciri, CEO of Oleon. 'With our strong presence in Europe and Asia, as well as our recent investment in the US, it was crucial to strengthen our foothold in the Brazilian market, where we see long-term growth potential, especially in the fields of lubricants and personal care.'
'This is a decisive move in the history of A.Azevedo Óleos and I believe it will bring great benefits to all stakeholders involved in the Company and enhance its global positioning. It is an honor to partner with Oleon and build together a stronger future," said Andrés Morales, of the founding family, who will remain with the Company and will serve as CEO.
Jean-Philippe Puig, CEO of Avril, emphasizes the importance of this acquisition for the broader group, 'By diversifying our geographies, this operation fulfills one of the priorities of Avril's new strategic plan, 'Ambition 2030'. By integrating A.Azevedo Óleos into our global operations, we reinforce our commitment to sustainable agriculture and renewable, bio-based solutions. The ability to cultivate and source key raw materials locally supports both environmental responsibility and the well-being of rural communities, in perfect alignment with Avril's Purpose, which is to Serve the Earth.'
Aligned with Avril's mission to promote sustainable agriculture and industrial practices, this acquisition reinforces.
Oleon's dedication to environmental and social responsibility. A.Azevedo Óleos collaborates closely with local farmers to ensure sustainable castor seed farming practices, supporting Oleon's drive for an agriculture that respects the planet. This local sourcing strategy not only provides important economic benefits to rural economies, particularly in Bahia where castor seed cultivation is a vital income source for communities, it also aligns with Oleon's broader goals of supporting local development and protecting natural resources.
Source: Oleon
Source
Oleon