Brenntag, a global market leader in chemical distribution, has entered into an agreement to acquire Conquimica SA. The chemical distribution company is headquartered in Medellin, Colombia, and is mainly active in providing industrial and speciality chemicals to the Coatings, Food and Cleaning industries. Conquimica operates four warehouses in the main economic areas of the country.
Germán Torres, CEO Brenntag Latin America: "Conquimica is an attractive investment to extend our geographic coverage and distribution network in Colombia. The company’s broad product portfolio and well-developed infrastructure complements Brenntag’s offerings to customers in important focus industries.”
Anthony Gerace, Brenntag Group’s Managing Director Mergers & Acquisitions: "Conquimica is a strategic fit strengthening Brenntag’s footprint in Colombia. Combining Conquimica’s product portfolio with Brenntag’s existing market reach and expertise will greatly benefit our customers across the Colombian market.”
The business is expected to generate total sales of approximately US$48.4M the financial year 2017. The agreement is subject to review and approval of local trade commission authorities. Closing of the transaction is expected to occur in the Q2 or Q3 of 2018.
