A Brazilian pine chemicals group has agreed to acquire Pinopine, a Portuguese gum rosin derivatives producer, sources in Brazil and Europe told Argus.
Grupo Resinas Brasil (RB), a large Brazilian pine chemicals producer, will probably own an undisclosed, controlling stake in Portugal-based derivatives manufacturer Pinopine, sources said.
The deal has already been communicated to Pinopine employees in Portugal, sources familiar with the transaction said.
The details of the deal were not disclosed and neither company returned requests for comment.
Sources in Brazil and southern Europe said the transaction would give Grupo RB competitive logistics access to the main European consuming regions as Pinopine is located in the Portuguese coastal city of Aveiro, near Porto.
Portugal is a key importer of gum rosin from Brazil, which is mainly used as a feedstock for the production of gum rosin esters.
Grupo RB also owns Luresa Resinas, a Spanish pine chemicals and derivatives producer. In 2022 the group acquired Barcelona-headquartered gum base supplier Cafosa. Gum base is used as one of the main components for the manufacture of chewing gum.
Grupo RB is a Brazilian pine oleoresin, gum rosin, gum turpentine and derivatives producer. Pinopine is a gum rosin derivatives producer.
