NEW YORK, NY – Clayton, Dubilier & Rice LLC (CD&R) and CVC Capital Partners have announced a definitive agreement for CD&R to acquire a 42.5-percent ownership interest in Univar, a global distributor of commodity and specialty chemicals. Funds advised by CVC will retain a 42.5-percent stake in the business. The remaining equity will be held by Univar management and other existing investors.

John Zillmer will remain Univar’s President and CEO. CD&R Operating Partner William S. Stavropoulos, former Chairman and CEO of The Dow Chemical Co., will become the non-executive Chairman of Univar.