Brenntag sells non-core entity Biosector
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Dear all, Please find attached Brenntag's press release regarding the divestment of Brenntag's non-core entity Brenntag Biosector A/S, Denmark, to Croda International Plc for a total consideration of 72 million EUR. For further information please see the press release. Please do not hesitate to contact us if you have further questions. Best regards, Hubertus Spethmann
Essen, December 17, 2018
Brenntag sells non-core entity Biosector
Brenntag (WKN A1DAHH), the global market leader in chemical distribution, has signed an agreement to divest Brenntag Biosector A/S, Denmark, to Croda International Plc for a total consideration of 72 million EUR.
Brenntag Biosector is a leading adjuvant specialist for vaccines suitable for use in both human and veterinary vaccines. The product portfolio comprises well-known and innovative aluminium-based and saponin-based adjuvants. The company is headquartered in Denmark and has its own production site there.
Karsten Beckmann, Member of the Board of Management of Brenntag Group and CEO Brenntag Europe, Middle East and Africa (EMEA): "With its focus on developing and manufacturing high-quality adjuvants, Biosector holds a unique position within the Brenntag Group and, although very successful, it is a non-core business for us."
Anthony Gerace, Brenntag Group's Managing Director Mergers & Acquisitions: "We believe it is the right time to hand over Biosector to a company that is well positioned and focused on the health care sector. We are confident that Croda will further develop the business and take it to the next level globally."
The transaction is expected to close by the end 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 Essen, Germany, the company operates a global network with more than 530 locations in 73 countries and a workforce of more than 16,000 employees. In 2017, the company generated sales of EUR 11.7 billion (USD 13.3 billion). Brenntag connects chemical manufacturers and chemical users. The company supports its customers and suppliers with tailor-made distribution solutions for industrial and specialty chemicals. With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop 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. Long-standing experience and local excellence in the individual countries characterize the global market leader for chemical distribution.
About Croda:
Established in 1925, Croda is the name behind high performance ingredients and technologies in some of the world's biggest and most successful brands: creating, making and selling speciality chemicals that are relied on by industries and consumers everywhere. Croda has a network of over 4,300 passionate and committed employees, working together as one global team across manufacturing sites and offices in 37 countries. Croda is a FTSE100 company with a flexible structure that allows it to focus on developing and delivering innovative, sustainable ingredients that its customers can build on in: Personal Care, Life Sciences (Health Care and Crop Care), Performance Technologies (Smart Materials, Energy Technologies, Home Care & Water Treatment) and Industrial Chemicals.
Hubertus Spethmann Brenntag AG Corporate Communications Messeallee 11 45131 Essen Deutschland Telefon: +49 (201) 6496-1732 E-Mail: hubertus.spethmann@brenntag.de http://www.brenntag.com