CHICAGO—Hallstar, a global manufacturer of specialty chemicals, has acquired Fortinbras, a specialty chemical manufacturer based in Sao Paulo.
The acquisition is the latest move in Hallstar's steady growth trajectory and global expansion, the company said in a news release, and will increase Hallstar's presence in the fast-growing emerging market of Brazil and greater Latin American region.
“Fortinbras will help Hallstar broaden its geographic reach,” John Paro, chairman, president and CEO of Hallstar, said in a statement.
“This strategic addition represents an opportunity to acquire a high quality business in a substantial market with strong future potential.”
Hallstar and Fortinbras share expertise in ester chemistry, Hallstar added, and have broad product offerings for the beauty and personal care and industrial markets, along with specialized formulations capabilities and technical support.
“In addition to common operating philosophies, the overlap of key end markets between the two companies makes for a strong strategic fit,” Fortinbras Commercial Director Rodrigo Marino said.
Benefits of the acquisition include greater regional diversification of manufacturing and customer and technical support and moves Hallstar closer to the source of raw materials, such as exotic butters and oils. With this, Hallstar will be able to offer a wider range of beauty and personal care ingredients that meet the rising demand for natural products.
Fortinbras' complementary expertise in ester chemistry also finds application in industrial and other end-markets, according to Hallstar, such as textiles and lubricants.