Brazilian lubricant maker and distributor Moove acquired Grupo Pax and its three lubricant companies. The Brazilian Antitrust Authority is yet to approve the U.S.$71.8-million deal, but if so, it could make Moove the dominant grease player in the country.
The three companies include Pax Lubrificantes, which manufactures grease for industrial and automotive applications under its own name and as private label.
The second company is Elvin Lubrificantes., which produces lubricant and grease, for industrial and automotive applications, under its own name and for third parties as well. The company merged with Pax Lubrificantes in 2011, but maintained its brand identity.
Lastly, Lubripack manufactures plastic packaging for lubricants and was already supplying products to Moove and other large lubricant companies.
Grupo Pax Lubrificantes exports to other South American countries, such as Paraguay, Bolivia and Uruguay.
The company has been on corporate rollercoaster lately. Earlier this month, Moove announced it would be launching its Comma brand in Spain. A week before, it cancelled an initial public offering on the New York Stock Exchange at the eleventh-hour, due to low bids.