Brenntag Closes Acquisition of EAC Industrial Ingredients Ltd. A/S
With this major acquisition in South and South East Asia Brenntag reinforces its growth strategy in Asia Pacific as it provides Brenntag with the capacity to accommodate accelerated growth in the region for the years to come.
Jul 15 2010 --- Brenntag, global market leader in chemical distribution, completed the acquisition of EAC Industrial Ingredients Ltd. A/S, a long established provider of chemical distribution solutions in South and South East Asia. Selling company was The East Asiatic Company Ltd. A/S. With this step Brenntag acquires EUR 220 million of sales expected for 2010 and significantly expands its market presence and strengthens its strategic position in the growth region Asia Pacific. Having signed the share purchase agreement last Monday July 5, 2010, the transaction has formally been closed within only eight days. A notification for merger control was not necessary.
With this major acquisition in South and South East Asia Brenntag reinforces its growth strategy in Asia Pacific as it provides Brenntag with the capacity to accommodate accelerated growth in the region for the years to come. Brenntag gains access to an established distribution network, to in-depth knowledge of local markets and to relationships with a broad customer and supplier base.
”We are encouraged by the positive reactions from customers and suppliers as well as employees towards this transaction. We are very excited to welcome EAC Industrial Ingredients’ team of highly experienced professionals in the Brenntag family and looking forward to an exciting future together”, says Brenntag’s COO Steven Holland.
Brenntag will now commence a seamless and efficient integration process based on its successful experience gained while completing more than 20 acquisitions during the last three years alone.
Independent from this major acquisition, Brenntag will further continue its long-term growth strategy, including its quest of additional smaller acquisitions as previously communicated.
