Germany’s Brenntag acquires Australia-based ISM/Salkat Group

02 July 2012 15:31  [Source: ICIS news]

LONDON (ICIS)--Brenntag has acquired Australia-based specialty chemicals distribution company ISM/Salkat Group for an undisclosed amount, the German chemical distributor said on Monday.

Brenntag said it will start integrating its existing organisation with the ISM/Salkat Group shortly after completion of the transaction, which is expected to close in July 2012.

ISM/Salkat Group is a leading distributor of specialty chemicals in Australia and New Zealand.

“The acquisition of the ISM/Salkat Group represents a huge step to achieve our strategic position as a full-line chemical distributor with an established and competitive platform in Asia-Pacific,” said Brenntag CEO Steve Holland.

“The acquisition represents a quantum leap for the network and know-how for Brenntag in Australia and New Zealand," he added.

Brenntag said that the ISM/Salkat Group expects sales of A$117m ($119m, €94m) in 2012.

“I am excited at the positive prospects this transaction will bring to all our stakeholders. The strong cultural and commercial fit - and the common objective of providing a global service to our customers and principals will ensure that the legacy of ISM's commitment to the Australian and New Zealand markets lives on,” said Patrick Delaney, CEO of ISM/Salkat.

Jurgen Buchsteiner, responsible for M&A activities at the management board of Brenntag, said: “Through this acquisition we can provide our business partners access also to the New Zealand market via our own local distribution and marketing network. The acquisition significantly expands Brenntag’s local supplier base and adds another 1,200 customers to our existing customer base”.

($1 = A$0.98, €1 = A$1.24)

By: Leigh Stringer
+44 208 652 3214

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