Old World Industries LLC announced that it has completed the acquisition of Victory Blue, a Dallas TX-based diesel exhaust fluid (DEF) company. The asset purchase included seven production facilities throughout the United States.
Kal Mahmood, president and chief executive officer, at Old World Industries said that this acquisition would bring about improved distribution efficiencies as well as allow the company to be better poised to service the growing demand for DEF through all sales channels.
Due to environmental regulations that began in 2010, the use of DEF is required in most diesel vehicles and off-road equipment. Over the next 10 to 15 years, as older diesel vehicles are rotated out of the market and replaced with more advanced engine platforms, annual DEF consumption is expected to exceed two billion gallons, as reported by Integer Research.
Charles Culverhouse, vice-president of global DEF business at Old World Industries said that the acquisition was a strategic initiative that would significantly accelerate the company's growth plans within the North American marketplace. "Combining these assets with our existing infrastructure solidifies Old World's position as the largest DEF marketer in North America," he said.