Eigenmann & Veronelli Group (EV Group), a distributor and manufacturer of speciality chemicals and food ingredients, has agreed to acquire a minority stake in Cornelius Group.
The financial terms of the deal were not disclosed.
Under the deal, Italy-based EV Group will gradually increase its stake in Cornelius by acquiring additional shares over the next two to three years.
Cornelius is a global manufacturer of speciality additives and ingredients for life sciences and performance chemicals markets.
Founded in 1935 in London, Cornelius has been partnering with global and local manufacturers across various industries.
The company currently employs around 100 people and achieved a turnover of £42m in the financial year ending 31 January 2024.
Cornelius CEO Phillip Gibbons said: “This partnership reinforces Cornelius’ position and provides the stability needed to execute our vision for the future.
“I have long admired EV’s entrepreneurial spirit and solid expertise in the chemical distribution sector, and I am delighted they so clearly support our long-term ambitions.”
The partnership between the two companies will strengthen them both by leveraging their shared technical expertise and complementary strengths.
EV Group gains access to established routes to market in the UK and Poland, while Cornelius benefits from a broader product range in manufacturing and distribution.
Additionally, the acquisition will drive growth and support Cornelius’ future vision.
By integrating EV Group’s brand lines with Cornelius’ offerings, the combined business is expected to create a stronger portfolio across the life sciences, industrial, medical, and nutrition markets.
With enhanced assets, expanded commercial infrastructure, and financial resources, the business plans to capitalise on new market opportunities.
EV Group CEO Gabriele Bonomi said: “We are delighted to invest in Cornelius Group to reinforce their position and support the growth of EV.
“Cornelius perfectly fits in with our strategy, it significantly enhances our capabilities and enriches our product portfolio. It further enhances our international presence.”
Cornelius will remain focused on its core activities, delivering new and sustainable solutions in performance chemicals, life sciences, and the ocular industry. Its management team will continue to lead Cornelius following the completion of this transaction.
