The buyout of Brazilian ingredients and specialty chemicals distributor Sweetmix is also anticipated to drive growth for the company's Food Ingredients portfolio in Brazil and generate growth and cost synergies. This will also springboard its Latin American expansion. Univar is also focused on cost-cutting, expense management and productivity actions, which are helping the company minimize operational costs and boost margins. It is taking a number of actions to reduce costs in the wake of the coronavirus pandemic, including reduction in travel and other discretionary spending. The company also has a solid liquidity position. At the end of first-quarter 2022, its liquidity was around $1.1 billion, including around $245.4 million cash and cash equivalents. UNVR also expects the majority of its debt obligations to mature in 2026 and beyond. The company reduced leverage ratio to 2.4x at the end of first-quarter 2022 from 2.5x at the end of 2021.