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Quaker Equities Ltd Inc history
Quaker Equities Ltd Inc company history timeline
By expanding Gatorade's geographic market, Quaker made the drink its top seller in 1987.
Products with leading market shares made up 75 percent of 1987 sales and over half came from brands that Quaker had not owned six years earlier.
In response, the company announced in April 1989 that it would repurchase seven million of its nearly 80 million outstanding shares, and that July, Smithburg reassigned some managerial duties.
Quaker's international sales continued to be a significant percentage of the company's total, and in 1991, the company restructured both its European and Latin American operations to focus marketing on a continental, as opposed to a country-by-country, basis.
March 1992 – Quaker acquires the remaining 50% equity interest in Quaker Quimica Espanola, S.A.
1993: Company acquires the Near East rice and pasta product brand.
On the international front, Quaker continued its aggressive Gatorade marketing drive, and by 1994 the beverage was available in 25 countries across Latin America, Asia, and Europe.
Despite its record sales figures, Quaker's overall financial outlook was not so bright as it entered 1995.
Due to the acquisition of Snapple, Quaker held a high debt to total capitalization ratio and felt it necessary to divest itself of a number of businesses in early 1995.
July 1996 – Quaker announces the phase-out of its manufacturing facility located in Conshohocken PA – USA by the end of the year.
August 1996 – Quaker files an application to list its common shares for trading on the New York Stock Exchange (“NYSE”) under the ticker symbol KWR. First NYSE trade occurs on August 23, 1996 for 100 shares.
The selloff continued in 1996 with the sale of the company's United States and Canadian frozen food business to Van de Kamp's for $185.8 million.
By the end of 1996 Lipton had claimed 33 percent of the market and Nestea 18 percent, while Snapple was left with only a 15 percent share.
Although lagging sales caused Quaker to sell the Snapple business in 1997, the company continued to expand the Gatorade brand by introducing nutritional drinks and snacks.
These and other moves led to $65 million in savings during 1998.
Lubricor Inc. was established in 1998 in Waterloo, Ontario, where the company’s headquarters, R&D and production are based.
The sale of the troubled Adria pasta brand followed in 1999.
In late 1999 the company announced a ten percent workforce reduction, equivalent to about 1,400 employees, as part of a cost-saving plan centering around Quaker's slower growing cereal operations.
January 2001 – Quaker Chemical enters into a joint venture with Quima International, LLC to form Q2 Technologies, LLC. Q2 Technologies specializes in H2S control with patented technologies.
The company changed its name to Quaker Foods and Beverages after being acquired by PepsiCo, Inc., in 2001.
February 2002 – Quaker acquires the business and assets of United Lubricants Corporation, a North American manufacturer and distributor of specialty lubricant products and chemical management services for the steel industry, located in Middetown, Ohio – USA.
April 29, 2002 – Quaker’s new corporate worldwide headquarters opens in Conshohocken, Pennsylvania – USA.
May 2003 – Quaker acquires a range of cleaners, wet tempter fluids and other products used in the steel industry from KS Chemie located in Dusseldorf, Germany.
March 2005 – Quaker acquires the remaining equity interest in its Brazilian joint venture.
November 2006 – Quaker acquires the remaining 40% equity interest in its Chinese joint venture . Company announces the expansion of its manufacturing and research and development presence in China and the consolidation of its regional headquarters into a new integrated facility in Qingpu, Shanghai.
May 2007 – Quaker, through its subsidiary, Q2 Technologies, LLC, acquires the oil analysis field chemical business of Frontier Research and Chemicals Company.
May 2008 – Quaker announces manufacturing site expansion at its Middletown, Ohio facility to triple production capacity and centralize Quaker’s North American production of steel, cleaners and hydraulic fluids.
The expansion is completed in late 2009.
July 28, 2010 – Quaker forms a partnership with the Sarah Fisher Hartman Racing (“SFHR”) team to develop new greases to reduce mechanical loss of energy and extend the life of the IndyCar bearings.
July 2010 – Quaker acquires D. A. Stuart’s United States aluminum hot rolling oil business from Houghton International, including the rights to sell the product portfolio internationally.
October 2011 – Quaker acquires G.W. Smith & Sons, Inc., a leading manufacturer and supplier of die cast lubricants located in Dayton, Ohio.
September 2012 – Quaker debuts its new integrated marketing campaign “It’s what’s inside that counts” encompassing an updated brand identity, logo and tagline.
January 2013 – Quaker acquires a chemical milling maskants distribution network in China to strengthen its position in the Asia/Pacific region.
November 3, 2014 – Quaker Chemical acquires Binol AB, a leading bio-lubricants producer primarily serving the Nordic region.
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