Brenntag, the global market leader in chemical distribution, has gained a majority stake of 65% of the shares in Raj Petro Specialities Pvt Ltd, India, by closing the first tranche. The agreement was signed in December 2017. With the closing, the two companies now enter into a 65/35 joint venture with the remaining 35% to be gained by Brenntag after a period of 5 years.
Raj Petro Specialities, headquartered in Mumbai and Chennai, distributes its own-blended brands of petroleum-related products to diverse customer industries in India and other countries in Asia Pacific as well as in Africa and the Middle East.
Henri Nejade, Member of the Management Board of Brenntag Group and CEO Brenntag Asia Pacific: “With Raj, Brenntag is expanding its footprint in the promising Indian chemical distribution market and other Asian Pacific countries, in Africa and the Middle East. The cooperation offers Brenntag diverse potential for synergies and future growth.”