Safic-Alcan Announces Acquisition of Rit-Chem
PARIS-LA DÉFENSE, France – Specialty chemicals distributor Safic-Alcan recently announced that it has acquired 100% of Rit-Chem Co. Inc., a boutique chemical distributor specializing in the performance and life science sectors in the United States. Rit-Chem will become part of the Chemspec organization in the United States, the American affiliate of the Safic-Alcan Group.
Established in 1972 by Henry Ritell and headquartered in New York, Rit-Chem started initially supplying specialty chemicals to paint and coatings manufacturers before diversifying in fields such as rubber, plastic, and food and feed. “The acquisition of Rit-chem is a strong step forward for our ambitions in North America, and will complement perfectly Chemspec’s current activities,” said Yann Lissillour, head of Mergers and Acquisitions for Safic-Alcan Group.
Rit-Chem represents key market leaders and also successfully promotes its own branded product lines, very much in line with Safic-Alcan's business. While its focus is the North American market, the company’s sales expand globally.
“The Ritell’s second generation will remain, ensuring a smooth transition, and the Chemspec family is looking forward to welcome officially Bruce, Gary and Wayne to the team, as well as the other Rit-Chem employees,” said Dave Moreland, President and CEO of ChemSpec.
Learn more at www.safic-alcan.com and www.chemspecltd.com.
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