Univar Solutions Inc., a distributor of specialty ingredients and chemicals, confirmed that it has received a preliminary indication of interest from Brenntag SE regarding a potential transaction. In a statement, Univar said it does not intend to make any additional comments regarding this matter unless and until it is appropriate to do so.

The move comes after Brenntag Chief Executive Christian Kohlpain this month said the company is eyeing the North American market with more interest and plans to double annual spending in mergers and acquisitions.

Kohlpaintner said the North American market was “more robust than a lot of people think” and could have a competitive advantage over the energy crisis-stricken European market.

In a statement, Brenntag said the Univar talks are ongoing and that it was not foreseeable whether there will be any kind of transaction.

Univar maintains it has the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools. The company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries and applications, according to Univar, Downers Grove, IL. The company is a key distributor in the personal care and home care industry.

Brenntag, based in Germany, is the world’s largest distributor of chemicals for a variety of markets including household and personal products.