Acquisition expands KLK OLEO’s product offering for Oleochemicals
PETALING JAYA, 11 APRIL 2023: KLK Emmerich GmbH (“KLKE”) a subsidiary of Kuala Lumpur Kepong Berhad (“KLK”), under its resource-based manufacturing division known as KLK OLEO, has recently completed its acquisition of a controlling stake in Temix Oleo SpA (“Temix Oleo”) for an undisclosed sum. The transaction was completed after receiving all necessary approvals and fulfilling all customary closing conditions.
“We are thrilled to have completed this acquisition and to welcome the talented team from Temix Oleo to the KLK group. This acquisition is aligned with our long-term strategy and vision for growth by further diversifying our product offering, increasing access to key customers and augmenting our product specialisation strategy across our European operations,” said Uwe Halder, CEO, KLK OLEO Europe.
“We are excited to join forces with KLK OLEO and bring our unique capabilities and expertise to the table. We are confident that this merger will be beneficial for all parties involved and will create new opportunities for growth and innovation,” said Roberto Cella, Managing Director of Temix Oleo.
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 Malaysia stock exchange with a market capitalisation of approximately 4.7 Mrd. € as at 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 lubricant, cosmetic, ceramic, coating, rubber and plastics industries. Based in Milan, Italy, Temix Oleo has a production plant in Calderara di Reno, Bologna, with over 100 employees and a turnover of 150 Mio. € in 2022.
KLKE has been assisted by KPMG Italy as financial advisor and for the financial and tax due diligences.
Hogan Lovells, Italian practice, acted as legal advisor for the legal matters.
Temix Oleo has been assisted by LCA Studio Legale for the legal matters.