Brenntag, a German chemical distribution company, has signed an agreement to acquire the specialties chemicals distribution business of Pioma Chemicals, a leading distributor of specialty excipients and functional ingredients to the pharmaceutical, personal care and food industries across India. The transaction will be structured as an asset deal and the acquired business will become part of Brenntag India, headquartered in Mumbai.
With this acquisition Brenntag is further strengthening its growing business in India by expanding the local and regional strategic supplier and customer relationships and improving the product portfolio of additional high quality products.
Henri Nejade, President and CEO of Brenntag Asia Pacific, said, “This acquisition enables us to expand our position in the Indian specialties distribution market even further, following our successful acquisition of the Zytex distribution business last year. India is one of the largest distribution markets in Asia and the expansion of our business proves once more our commitment to this region and to our business partners operating in this region. This new business will broaden our product portfolio and therefore facilitates an acceleration in the growth of Brenntag in India.”
The acquired business is expected to generate total sales of approximately Euro 17.2 million (Rs 136 crore) in the financial year 2014.
Headquartered in Mulheim an der Ruhr (Germany), Brenntag operates a global network with more than 480 locations in more than 70 countries. In 2013, the company, which has a global workforce of more than 13,000, generated sales of Euro 9.8 billion ($ 13 billion).
