Brazilian energy company Raizen said last week that it completed its acquisition of Shell’s lubricant business in Brazil, which it agreed to purchase last June.
The deal gives Raizen, a joint venture between Shell and sugar processor Cosan, control of a business that claims more than a seventh of the country’s finished lubes market.
The companies have not disclosed the price of the transaction.
The acquired business supplies a wide range of automotive and industrial lubricants under Shell brands such as Helix, Rimula and Shell Advance. Raizen said the business supplied 15% of the lubricants consumed in Brazil during the first quarter of this year.
Raizen also acquires Shell’s blending plant in Rio de Janeiro with capacity to make 280,000 kiloliters of lubes per year, along with a base oil terminal in Rio’s Campos Eliseos area.
The joint venture, which is based in Sao Paulo, said it expects to increase sales by offering Shell lubes to its existing customers.