December 19 2017, David R Brown
Brenntag to acquire Conquimica to extend distribution network in Colombia
Brenntag, the global market leader in chemical distribution, entered into an agreement to acquire Conquimica S.A. The chemical distribution company is headquartered in Medellin, Colombia, and is mainly active in providing industrial and specialty chemicals to the Coatings, Food and Cleaning industries. Conquimica operates four warehouses in the main economic areas of the country.
Conquimica is an attractive investment to extend our geographic coverage and distribution network in Colombia
Germán Torres
CEO Brenntag Latin America
Germán Torres, CEO Brenntag Latin America: "Conquimica is an attractive investment to extend our geographic coverage and distribution network in Colombia. The company's broad product portfolio and well-developed infrastructure complements Brenntag's offerings to customers in important focus industries."
Anthony Gerace, Brenntag Group's Managing Director Mergers & Acquisitions: "Conquimica is a strategic fit strengthening Brenntag's footprint in Colombia. Combining Conquimica's product portfolio with Brenntag's existing market reach and expertise will greatly benefit our customers across the Colombian market."
The business is expected to generate total sales of approximately USD 48.4 million in the financial year ending in 2017. The agreement is subject to review and approval of local trade commission authorities. Closing of the transaction is expected to occur in the 2nd or 3rd quarter of 2018.
About Brenntag
Brenntag, the global market leader in chemical distribution, covers all major markets with its extensive product and service portfolio. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 550 locations in 74 countries. In 2016, the company, which has a global workforce of around 15,000 employees, generated sales of EUR 10.5 billion (USD 11.6 billion). Brenntag connects chemical manufacturers and chemical users. The company supports its customers and suppliers with tailormade distribution solutions for industrial and specialty chemicals. With over 10,000 products and a world-class supplier base, Brenntag offers one-stopshop solutions to around 185,000 customers. This includes specific application technology, an extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling.
Source(s): Brenntag Press Release
Visit: http://www.brenntag.com