Brenntag has signed an agreement to acquire the specialties chemicals distribution business of Pioma Chemicals, a 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.
Henri Néjade, President and CEO of Brenntag Asia Pacific: “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.”
The acquired business is expected to generate total sales of approximately €17.2 million (US$22.25 million).
The closing of the transaction is expected in the course of September 2014.
