Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical and ingredients distribution, today announces the acquisition of ICL Packed Ltd., a subsidiary of Industrial Chemical Ltd. (ICL). Operating from England the acquired business is a specialist in the distribution of packaged chemicals for water treatment.
Steven Terwindt, Member of the Management Board of Brenntag Group and COO Brenntag Essentials: “We see a very positive outlook for the Water Treatment business in the UK over the years to come due to population growth and the increased pressure on environmental quality. Therefore, I am thrilled to welcome ICL Packed to our business. The acquisition will not only strengthen our position in water treatment, but also in core market sectors in the region.”
In addition to the acquisition, the transaction includes Brenntag securing a supply agreement with ICL who is a large manufacturer of Caustic Soda, Hydrochloric acid, Iron, and Aluminium coagulants as well as Sodium Hypochlorite in the UK.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group, highlights the strategic opportunities of the acquisition: “It is a very important element of Brenntag’s expansion strategy in the UK to extend our Water Treatment business. With its broadly diversified customer base and strong product portfolio, the acquired business perfectly complements our current full-service approach to this important market in the UK.”
The acquired business is expected to generate sales of approximately GBP 11 million in the financial year 2020. Signing and closing of the transaction were realized simultaneously.