Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical and ingredients distribution, today announces the acquisition of ICL Packed Ltd., a subsidary of Industrial Chemcial Ltd. (ICL). Operation from England the acquired business is a specialist in the distribution of packaged chemicals for water treatment.
Steven Terwindt, Memeber 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 years to come due to population growth and the inceased preasure on environmenal 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 sector in the reghgion."
In addtion to the acquisition, the transaction includes Brenntag securing a supply agreement wih 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 opportunites of the acquisition: "It is a very important 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 imporant market in the UK."
The acquired business is expected to generate sales of approximately GBP 11 million in financial year 2020. Signing and closing of the transaction were realized simultaneously.