03 April 1998 14:43 [Source: ICIS news]
LONDON (CNI)-- German chemical distributor Brenntag remains committed to growth through acquisitions, Rients Visser, chairman of the board of management, told CNI Friday.
The company has just acquired the chemical distribution activities of the Schuster & Sohn Group in Kaiserslautern, Germany, with the deal taking effective retroactively from 1 January 1998. With the acquisition of Schuster, Brenntag has closed a gap in (its) German distribution network, said Visser.
Financial details of the transaction, which is subject to the German Federal Cartel Office approval, have not been released. Schuster had a turnover of DM80m ($43.7m) in 1997 and it has around 100 employees at its facilities in Kaiserslautern, Ludwigshafen, Mannheim and Trier.
Brenntag announced its strategy to grow in the chemicals distribution business through acquisitions in 1991, said Visser, and it will continue to pursue that strategy. In the past year alone, it has acquired businesses in Belgium, France, Italy, Spain and Switzerland. The company now has almost 80 sites in Europe.
The Far East, Scandinavia and the UK are the main areas of priority for future acquisitions, said Visser. "If we came across the right business tomorrow we would be interested in acquiring it," he said.
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