ESSEN, Germany, July 3, 2018 /PRNewswire/ --
Brenntag (WKN A1DAHH), a global leader in chemical distribution, has signed an agreement with Canada Colors and Chemicals Ltd. to acquire the company's chemicals distribution business ("CCC"). CCC offers a full-line portfolio with operations in the main industrial areas across Canada and serves a highly diversified customer base in industries such as Life Sciences, Water Treatment, Coatings, Construction, Energy and Mining.
Steven Holland, CEO Brenntag Group: "With the acquisition of CCC, Brenntag strengthens its focus and specialties capabilities in both Life Science and Material Science. CCC's broad positioning and extensive product and service portfolio perfectly complement Brenntag's offer to our customers and suppliers."
CCC maintains facilities across Canada to store, blend and package industrial and specialty chemicals and products. Its Life Science offer includes an application lab, several own formulations and a highly qualified technical staff. CCC's blending capabilities and formulation expertise in the Oil & Gas business opens interesting synergetic business opportunities with Brenntag Canada's O&G operations. CCC's own truck fleet will extend Brenntag's value-added service offering.
Markus Klähn, Member of the Management Board of Brenntag Group and CEO Brenntag North America: "This strategic acquisition will solidify our position as partner of choice for our suppliers and customers in Canada and will sustainably support our collective growth ambitions in this industry."
Guy Carr-Harris, Chairman and CEO of Canada Colors and Chemicals Ltd.: "The sale of our chemicals distribution business to Brenntag is an exciting opportunity for our employees and stakeholders to join forces with one of the world's leading international chemical distribution companies. The combination of Brenntag's global reach and our technical capabilities provide a compelling platform for our customers and suppliers."
CCC generated total sales of approx. 140 million EUR in 2017. Closing of the transaction is expected within the course of the next weeks, subject to contractually agreed closing conditions.
SOURCE Brenntag AG