Germany based global Chemical distribution company Brenntag has signed agreement to acquire Medellin, Colombia headquartered Conquimica, mainly active in providing industrial and specialty chemicals to the Coatings, Food and Cleaning industries. The agreement is subject to review and approval of local trade commission authorities.
Conquimica operates four warehouses in the main economic areas of the country. The business is expected to generate total sales of approximately 48.4 million USD in the financial year 2017. Closing of the transaction is expected to occur in the 2nd or 3rd quarter of 2018.
According to 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 M&A, said “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.”