By Andrea Figueras
Brenntag said Tuesday that it has agreed to acquire Shanghai Saifu Chemical Development, a Chinese distributor of chemical products, for an undisclosed sum.
With this deal, the German chemical-distribution company aims to expand its reach and customer base in China and Asia Pacific, Chief Operating Officer Michael Friede said.
The transaction is expected to be completed later this year after the fulfillment of customary closing conditions, Brenntag said.
Saifu had revenue of 71 million euros ($77.6 million) in 2022. The company currently employs more than 100 people and serves more than 1,000 customers in the greater China region, Brenntag said.
Write to Andrea Figueras at [email protected]
Read the full article here
