US Distributor Plaza Group Buys Conchemco
The Plaza Group, a chemical marketer and distributor based in Houston, Texas, USA, is to acquire Conchemco.
Located in Dallas, Texas, Conchemco markets and distributes chemicals and solvents. Its core products are acetone, toluene, xylene as well as other major aromatic and aliphatic hydrocarbons.
Randy Velarde, president and CEO of The Plaza Group said the acquisition of Conchemco is a great opportunity to expand its expertise and fortify future growth plans.
Financial terms and an expected completion date for the transaction were not revealed.
The acquisition is the second for the Texas company this year, having acquired Truth Chemical in January. Based in The Woodlands, Texas, Truth Chemical’s portfolio includes chemicals, fertilizers and specialty products.
According to industry journal ICIS Chemical Business, The Plaza Group is number 35 in its North American ranking of top distributors, with 2016 annual sales of $102 million.