ESSEN, Germany, June 23, 2021 /PRNewswire/ -- Brenntag (ISIN:
DE000A1DAHH0), the global market leader in chemicals and
ingredients distribution, today announces the acquisition of the
US-located Storm Chaser Holding Corporation ("JM Swank") from
Platinum Equity. The company is a leading distributor of food
ingredients and reported sales of approximately USD 500 million in 2020. With an enterprise value
of USD 304 million, this is a
decisive step in expanding Brenntag's position in the North
American Nutrition industry and a key acquisition aligned with
Brenntag's M&A strategy.
Christian Kohlpaintner, Chief Executive Officer of Brenntag SE:
"With JM Swank, we acquire a renowned leader in the North American
market in the sector of food ingredients distribution. This
strategic acquisition will double Brenntag's size in the Nutrition
business in the region and thus creates the leading food
ingredients and food process chemicals distributor in North America with approximately one billion US dollars in revenue. Nutrition is
one of the defined focus industries in the Brenntag Specialties
division. This acquisition is fully in line with our M&A
strategy as it accomplishes key strategic objectives: acquiring
companies generating a meaningful operating EBITDA contribution as
well as targets accelerating growth of our Brenntag Specialties
division."
The acquired company offers a highly diversified product
portfolio of food ingredients such as spices, dairy, grain,
sweeteners, fats & oils, texturants, flavors & colors,
starches, cocoa, and inclusions. JM Swank's broad product line
perfectly complements Brenntag's existing portfolio in the
Nutrition industry.
Henri Nejade, Member of the
Management Board of Brenntag SE and Chief Operating Officer
Brenntag Specialties: "JM Swank has significant potential for
continued future growth. The company provides Brenntag Specialties
with an extended platform for strategic growth and strengthens our
footprint in North America and the
Americas as a region. With this acquisition we expand our
portfolio, leverage logistics capabilities, and offer our customers
an even more comprehensive range of services and products within
the industry."
Closing of the acquisition is subject to certain contractual
conditions and regulatory approvals and is expected to be completed
within Q3 2021.
Contact:
Press contact:
Verena Blaschke
Brenntag S
Global Communications
Messeallee 11
45131 Essen
Germany
Telephone: +49 (201) 6496-1213
E-Mail: global.communications@brenntag.de
www.brenntag.com
Investor contact:
Thomas Altmann
Brenntag SE
Corporate Investor Relations
Messeallee 11
45131 Essen
Germany
Telephone: +49 (201) 6496-2102
E-Mail: IR@brenntag.de
www.brenntag.com
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SOURCE Brenntag SE