ERJ staff report (TP)
Mülheim an der Ruhr, Germany − Brenntag, the chemical distribution company, has signed an agreement to acquire the specialties chemicals distribution business of Pioma Chemicals in India.
Pioma is 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, 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.”
The acquired business is expected to generate total sales of approximately €17.2 million. Closing of the transaction is expected in the course of September 2014.
Brenntag has more than 480 locations in approximately 70 countries. In 2013, the company, which has a global workforce of more than 13,000, generated sales of €9.8 billion.
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