Brenntag signs bolt-on acquisition of Chemgrit Cosmetics in South Africa
Dear all,
Please find attached Brenntag's press release regarding the bolt-on acquisition of Chemgrit Cosmetics in South Africa.
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, August 1, 2019
Brenntag signs bolt-on acquisition of Chemgrit Cosmetics in South Africa
Brenntag (WKN A1DAHH), the global market leader in chemical distribution, today has signed an agreement to acquire the operating business of Chemgrit Cosmetics (Pty) Ltd., headquartered in Johannesburg, South Africa. The company, part of the larger Chemgrit chemicals group, is an independent specialty chemical distributor in South Africa with a focus on personal care and cleaning markets.
Karsten Beckmann, Member of the Management Board of Brenntag Group and CEO Brenntag Europe, Middle East and Africa: "With the acquisition of Chemgrit Cosmetics we expand the industry segment and scope for Brenntag South Africa in specialties. The company's cosmetics focus perfectly complements our existing national food and pharma business and supports our ambition to achieve a strong position and comprehensive offering in South Africa."
Chemgrit Cosmetics operates three warehouses, located in Johannesburg, Durban and Cape Town, and an in-house laboratory to provide its customers with value-added services including mixing, refilling, redistribution & delivery, formulating & testing of materials and products and other technical support.
Anthony Gerace, Brenntag Group's Managing Director Mergers & Acquisitions: "Based on a dedicated structure and team, Chemgrit Cosmetics has a strong foothold in Personal Care which is one of the fastest growing market segments in South Africa and sub-Saharan Africa. Brenntag can use its existing structure in East and West Africa as well as Maghreb to roll out the cosmetics business line in the region."
The acquired business generated sales of approximately 5 million EUR
in the financial year 2018. Closing of the transaction is subject to certain contractual closing conditions and is expected to occur in the course of the 3rd quarter of 2019.
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 580 locations in 76 countries and a workforce of more than 16,600 employees. In 2018, the company generated sales of EUR 12.6 billion (USD 14.8 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 more than 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to around 195,000 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.
Hubertus Spethmann Brenntag AG Corporate Communications Messeallee 11 45131 Essen Germany Telephone: +49 (201) 6496-1732 E-Mail: hubertus.spethmann@brenntag.de https://www.brenntag.com