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The transaction raises Moove's relevance in the United States and establishes a platform for the development of new businesses.
Moove, the Brazilian multinational of the Cosan Group, is one of the largest manufacturers and distributors of oils and lubricants in the country. It develops essential services and products to promote and deliver more efficiency in both industrial instruments and commercial and passenger vehicles. The company, which is present in 11 countries, in the Americas and Europe, recently expanded its business in the United States with the acquisition of PetroChoice, the largest producer and distributor of lubricants in the US market. The company has a wide range of premium products, including Mobil lubricants, in addition to proprietary brands. Headquartered in Pennsylvania, it operates more than 50 distribution centers, all strategically located in 25 states, representing approximately 70% of the US market.
Moove's recent acquisition, PetroChoice, has an important role in the North American lubricants business and enormous development potential. This is because the American market consumes around 6 billion liters of lubricant per year, making it the second largest in the world, almost six times larger than the brazilian market. “PetroChoice serves as an important pillar of our global growth plans, and this purchase establishes Moove in a leadership position in the large and growing US lubricants market. We are excited to integrate PetroChoice into our company and with the future success in the development of the business”, said Filipe Affonso Ferreira, CEO of Moove.
Moove's goal is to become, in addition to being a Brazilian multinational, a world reference in lubricants (Know how to differentiate true lubricants from fake ones.). Since the beginning of the execution of the strategic plan in 2017, the company has imposed a remarkable pace of growth, in which stands out the 4.5 times multiplication of EBITDA (Earnings before interest, taxes, depreciation and amortization. In Portuguese, EBITDA, “Earnings before interest, taxes, depreciation and amortization”) – a number that represents an average increase of 35% per year.
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EBITDA or EBITDA, that is to say, is a term commonly used by investors and financial analysts in the study of accounting balance sheets of publicly traded companies. Its purpose is to measure the productivity and efficiency of businesses over the years. It is, therefore, an indicator of the financial reality of the company. For this reason, it can be used to carry out comparative and competitive examinations, as well as to identify the best ranked companies in terms of efficiency within a given segment. It is also useful for determining a company's ability to generate operating cash.
Move's next steps
One of Moove's strategic priorities is to expand business not only in the Americas but also in Europe. According to executive director Filipe, “we are focused on replicating the business model developed from the experience we have accumulated in our main markets. We believe in our ability to create value for our stakeholders, in the supply, manufacturing, marketing and commercialization of our products, as we consistently invest in the evolution and strengthening of our assets – people, operations and intelligence”.
The operation is in line with Moove's growth strategy and will make it important player of lubricants, with a powerful portfolio and a differentiated market position in the Americas and Europe.
More information about Move
A Brazilian multinational of the Cosan Group, Moove is one of the largest producers and distributors of lubricants and base oils in Brazil, present in eleven countries, in the Americas (Brazil, Bolivia, Argentina, United States, Paraguay and Uruguay) and Europe (United Kingdom, Portugal, Spain and France). It develops products and services specialized in lubrication that are essential in promoting and offering greater efficiency both in industrial equipment and in commercial and passenger vehicles.
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