Comma sold

2 March 2012  

COSAN S.A, a Brazilian firm that specialises in the production of sugar cane, has signed an agreement to purchase lube firm Comma form current owners Esso.

The value of the deal is reported as being something under US $100m after adjustments. During a transition period, which is expected to be completed by the third quarter of 2012, Comma will continue to operate as normal under the Comma brand.  All current contracts will remain unchanged. It is anticipated that Comma will continue to manufacture and sell Comma-branded and private label products following change in control, in order to facilitate Cosan’s entry into the European lubricants market.

The Brazilian firm say that one of the main reasons for buying Comma is to get a foothold in Europe. In Latin America sugar is a ‘fuel crop’ and is routinely used in the production of ethanol. Cosan have for some time had a distribution contract with Exxon Mobil in Latin America as well as a similar contract with Shell. No redundancies are planned during the change of ownership.