Brenntag to acquire Thai finished lubes distributor Oils 'R Us
Ein Dokument
Dear all,
Please find attached the press release of Brenntag on the acquisition of the Thai finished lubes distributor Oils 'R Us.
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, July 9, 2020
Brenntag to acquire Thai finished lubes distributor Oils 'R Us
Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical and ingredients distribution, has signed an agreement to acquire Oils 'R Us Co., Ltd. headquartered in Thailand. The company has a diversified customer base as it distributes a wide range of lubricants for Automotive, Commercial Vehicle, Industrial and Marine applications.
"Our acquisition in Thailand, which is the second largest economy in Southeast Asia, perfectly drives Brenntag's lubricants expansion plan in the region forward. Not only regional, but also in terms of service offering, since Oils 'R Us offers us extensive possibilities to establish lubricant decanting and re-packaging capabilities in the future," says Henri Nejade, Member of the Management Board of Brenntag Group and CEO Brenntag Asia Pacific.
Brenntag already markets, sells, and distributes lubricants in Singapore, Hong Kong, the Central & South of Vietnam, and West Java including Jakarta in Indonesia. The acquisition of the business in Thailand will thus enlarge Brenntag's footprint in Southeast Asia.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group, sums up: "Our strategy is to build broad regional coverage of lubricant distribution in Southeast and Southern Asia. Adding a platform in the important market of Thailand is the next step for Brenntag Asia Pacific to complete its vison to become the leading distributor and provider of lubricants and value-added services in the region."
The target business generated sales of approximately EUR 22 million in the financial year 2019. Closing of the transaction is expected to occur in the second half of 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