Moove Acquires PetroChoice from Golden Gate Capital – Benzinga – Press Release


Cosan S.A. ((B3:CSAN3, NYSE:CSAN), one of Brazil’s largest business groups with investments in energy and logistics and revenue of approximately $23 billion, today announced that its subsidiary Moove, a leading global producer and distributor of lubricants and base oils, acquired PetroChoice Lubrication Solutions (“PetroChoice”) from Golden Gate Capital for $479 million.

PetroChoice is the largest distributor and manufacturer of value-added lubricant solutions in the United States, delivering approximately 62 million gallons annually to the industrial, commercial, and passenger vehicle customer segments. PetroChoice has an extensive and high-quality product offering including Mobil lubricants, as well as several licensed proprietary brands including Medallion Plus, Dyna-Plex 21C and Eco Ultra. Headquartered in King of Prussia, Pennsylvania, PetroChoice operates more than 50 strategically located distribution centers across 25 states.

The acquisition establishes a market-leading presence and distribution footprint for Moove in the $33 billion U.S. lubricants market. Moove will leverage its lubes market expertise, technology, manufacturing capabilities and investment capabilities to support the continued development of PetroChoice and its growth plans. PetroChoice is poised to benefit from favorable end-market dynamics such as shifting regulatory trends and consumer preferences that are driving synthetic lubricants market growth.

Filipe Affonso Ferreira, CEO of Moove, said, “PetroChoice serves as a major cornerstone for our global growth plans and this acquisition helps Moove establish a market-leading position in the large and growing U.S. lubricant market. We have been deeply impressed by the PetroChoice team’s strong execution and strategy of consolidating smaller regional players to create an integrated, centralized, and scalable operating model with strong brand recognition. We look forward to onboarding the PetroChoice team and to future success in…