Brenntag strengthens South Korean footprint with the acquisition of specialty chemicals distributor, Whanee Corporation
April 29 2016, David R BrownTweet
Brenntag has signed an agreement to acquire the South Korean specialty chemicals distributor Whanee Corporation, based in Gwacheon, near Seoul. The company mainly serves the domestic South Korean market with a wide range of food and beverage ingredients with a focus on dairy, functional and flavor related products.
South Korea's market is considered to offer significant opportunities for Brenntag Asia Pacific in the centre of Northeast Asia where South Korea is home to world-class chemical companiesAnthony Gerace
Managing Director Mergers & Acquisitions at Brenntag Group
Henri Nejade, Member of the Board of Management of Brenntag Group and CEO Brenntag Asia Pacific: “The acquisition facilitates Brenntag Asia Pacific's market entry in South Korea with specialty chemicals distribution business subsequent to our acquisition of TAT Group, with which we entered the South Korean industrial chemicals market in December 2015. At the time of the signing of this acquisition, we also established Brenntag Chemicals Korea, which is comprised of the industrial and specialty chemicals business operating in the segments Lubricants, Personal Care, Coatings and Home Care. Both operations now set a solid footprint of Brenntag in South Korea to further support our business partners and to execute our strategy in the country.”
Brenntag believe Whanee offers access to a solid local customer base including key players in the dairy food and beverage industry. In addition, the company has a reputable international supplier base, partially with exclusive rights to import and sell the supplier's products in the domestic market. “Overall, South Korea's market is considered to offer significant opportunities for Brenntag Asia Pacific in the centre of Northeast Asia where South Korea is home to world-class chemical companies. The country's local food and beverage market has experienced strong growth rates over the past years, and we believe this trend will continue and we are excited about improving our market position”, says Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group.
The acquired business generated sales of 16.8 million EUR in the financial year 2015. The closing of the transactions will occur in the course of the next weeks.
Brenntag, the global market leader in chemical distribution, connects chemical manufacturers and chemical users and covers all major markets with an extensive product and service portfolio. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 530 locations in 74 countries. In 2015, the company, which has a global workforce of more than 14,000 employees, generated sales of EUR 10.3 billion (USD 11.5 billion). Brenntag. The company supports its customers and suppliers with tailormade distribution solutions for industrial and specialty chemicals with over 10,000 products and a world-class supplier base. This includes specific application technology, an extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling. Long-standing experience and local excellence in the individual countries characterize the global market leader for chemical distribution.
Source(s): Brenntag Press Release
Attention Chemical Distributors!
Please send your press releases to: email@example.com
Latest Distributor News
- 6 Mar 2018 - Grupo ADI acquires Spanish chemical manufacturer and distributor, Quaternia »...Source: Grupo ADI Press Release
- 6 Mar 2018 - Azelis strengthens its position in the Moroccan food market with the acquisition of Distralim »...Source: Azelis Press Release
- 23 Feb 2018 - 2M Group continues its growth in Europe with the acquisition of specialty chemicals distributor, FrankenChemie »...Source: 2M Holdings Press Release
- 19 Feb 2018 - Sunil Healthcare appoints HARKE GROUP as exclusive distributor for empty capsules »...Source: HARKE Press Release
- 14 Feb 2018 - Bodo Möller Chemie expands its European network with the formation of UK subsidiary »...Source: Bodo Möller Chemie Press Release
- 1 Feb 2018 - The Krahn Chemie Group extends its European network with the acquisition of Memolex SAS, France »...Source: Krahn Chemie Press Release
- 3 Jan 2018 - Safic-Alcan UK acquires Techform Fine Chemicals »...Source: Safic-Alcan Press Release
- 21 Dec 2017 - US Vinmar acquires control of Turkish chemical distributor Veser Kimya »...Source: Vinmar Press Release
- 21 Dec 2017 - Brenntag expands market coverage and service portfolio in Iberia by acquiring Quimitécnica »...Source: Brenntag Press Release
- 21 Dec 2017 - Safic-Alcan acquires the French distributor of pharmaceutical active ingredients, Biochimex »...Source: Safic-Alcan Press Release
- 21 Dec 2017 - Barentz International acquires Soforebo to strengthen animal protein offer in the Balkans region »...Source: Barentz Press Release
- 19 Dec 2017 - Brenntag to acquire Conquimica to extend distribution network in Colombia »...Source: Brenntag Press Release
- 19 Dec 2017 - Specialty chemicals distributor, Bodo Möller Chemie positioned to achieve global growth targets »...Source: Bodo Möller Chemie Press Release
- 18 Dec 2017 - Brenntag expands presence in the Indian chemical distribution market by acquiring Raj Petro Specialities »...Source: Brenntag Press Release
- 8 Dec 2017 - Univar acquires Kemetyl Industrial Chemicals to enhance its position as a leading distributor in the Nordic region »...Source: Univar Press Release
- 24 Nov 2017 - Overlack changes name to OQEMA to reflect European growth ambitions »...Source: CHEManager article
- 22 Nov 2017 - Valtris Specialty Chemicals selects Krahn Chemie as distributor for a number of European countries »...Source: Krahn Chemie Press Release
- 1 Nov 2017 - Safic-Alcan establishes a strategic alliance to supply pharmaceutical ingredients in Turkey »...Source: Safic-Alcan Press Release
- 30 Oct 2017 - Caldic expands in the UK with the acquisition of specialty chemicals distributor, Elastomerics Limited »...Source: Caldic Press Release
- 9 Oct 2017 - Brenntag strengthens chemical distribution in South Africa with the official formation of Brenntag South Africa (Pty) Ltd »...Source: Brenntag Press Release
- 4 Oct 2017 - U.S. polymer distributor, M. Holland to acquire wire & cable distributor T&T Marketing »...Source: M.Holland Press Release
- 25 Sep 2017 - Azelis expands its presence in the Swiss market with the acquisition of Georges Walther AG »...Source: Azelis Press Release
- 22 Sep 2017 - Leading Australasian distributor, Redox buys specialty engineering polymers distributor, P.D. Plastics Pty Ltd »...Source: Redox Press Release
- 21 Sep 2017 - Univar aquires Tagma Brazil to expand its agricultural business in Latin America »...Source: Univar Press Release
- 20 Sep 2017 - Leading U.S. speciality chemicals distributor, Maroon Group acquires New Jersey-based Seidler Chemical »...Source: Maroon Group Press Release