Brenntag to acquire Italian activated carbon specialist Comelt
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Dear all,
Please find attached the press release of Brenntag on the acquisition of the activated carbon specialist Comelt.
For further information please see the press release below.
If you have any questions, please do not hesitate to contact us.
Best regards,
Hubertus Spethmann
Essen, October 19, 2020
Brenntag to acquire Italian activated carbon specialist Comelt
Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical and ingredients distribution, announces the acquisition of the operating assets of US-based Suffolk Solutions, Inc's caustic soda distribution business.
"The business and the related terminals of Suffolk Solutions fit seamlessly into our ambitions to further link Brenntag's caustic soda network in the Eastern United States. There is great potential to strengthen our supply chain and expand our customer base in this geography," says Steven Terwindt, Member of the Management Board of Brenntag Group and CEO Brenntag North America.
The Virginia headquartered company, founded in 2005, has access to a bulk terminal as well as to a rail transloading facility within the state. The business relies on long-term suppliers and a loyal customer base.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group, summarises the locational advantages of the acquisition: "Suffolk Solutions will strengthen Brenntag's footprint in the Virginia market and thus will enable us to improve our logistical infrastructure throughout the region. It will provide us with greater supply flexibility, manoeuvrability, and additional storage capacity on the east coast of the United States."
The acquired business generated sales of approximately USD 15.6 million in a 12-month period ending April 30, 2020.
About Brenntag:
Brenntag is the global market leader in chemical and ingredients distribution. We connect our suppliers and customers in value-adding partnerships. Our almost 17,500 employees provide tailor-made application, marketing and supply chain solutions. Technical and formulation support, market, industry and regulatory expertise as well as advanced digital tools are just some examples of our services that are aiming to create an excellent customer experience. Our full-line portfolio comprises specialty and industrial chemicals and ingredients of a world-class supplier base. Building on its long-standing experience, unmatched global reach and local excellence, Brenntag works closely alongside its partners to make their business more successful. We are committed to contribute towards greater sustainability in our own business and the industries we serve, and to achieve sustainable profitable growth. Headquartered in Essen (Germany) and with regional headquarters in Philadelphia, Houston and Singapore, Brenntag operates a unique global network with more than 640 locations in 77 countries. The company generated sales of EUR 12.8 billion (USD 14.4 billion) in 2019. Brenntag shares are traded at the Frankfurt Stock Exchange (BNR).
Press contact:
Hubertus Spethmann Brenntag AG Global Communications Messeallee 11 45131 Essen Germany Telephone: +49 (201) 6496-1732 E-Mail: hubertus.spethmann@brenntag.de www.brenntag.com