This step reflects Univar’s continued focus and commitment to growth in the rapidly-growing, North American oil and gas market.
“We are thrilled that the acquisition has closed,” said Univar President and Chief Executive Officer Erik Fyrwald. “Our ability to offer a comprehensive product portfolio and expanded geographic footprint will provide major benefits to our customers and suppliers in the oil and gas and agriculture industries.”
Following the acquisition, Magnablend will function as a wholly-owned subsidiary of Univar. The company will continue to operate out of its existing facilities.
Scott Pendery, president and chief executive officer of Magnablend said, “Magnablend’s market activities, supplier relationships, facilities, and locations are a perfect fit to the Univar network. Both of our companies share the same dedication to building and maintaining long-standing relationships with customers and suppliers. We also share the same focus on quality, excellence, expertise, and safety, and we are convinced that our employees and business partners will benefit greatly from the new combined organization.”