March 1 2019, David R Brown
STOCKMEIER acquires the industrial chemicals division of Spanish distributor, Indukern
The German-headquartered STOCKMEIER Group has bought the industrial chemicals distribution division of Indukern, a company of the Spanish Indukern Group ultimately owned by Díaz-Varela family. The agreement was a result of Indukern's decision to focus its growth strategy on its other four divisions: Flavours & Fragrances, Food Ingredients, Animal Nutrition and Pharma and Animal Health. The acquired business is to be integrated in to Stockmeier's newly founded Spanish subsidiary, STOCKMEIER Química SLU.
We want to be among the top three chemical distributors in Europe. With this acquisition we have taken another big step in this directionMatthias Mirbach
Managing Director of STOCKMEIER Holding GmbH
“We are very pleased that the Diaz-Varela and Stockmeier families have come to an agreement and that Stockmeier will in future also occupy a leading position in chemical distribution in Spain. The business fits perfectly into our group of companies,” says Peter Stockmeier, Managing Partner of the STOCKMEIER Group.
“We want to be among the top three chemical distributors in Europe. With this acquisition we have taken another big step in this direction”, says Matthias Mirbach, Managing Director of STOCKMEIER Holding GmbH. “We will now further expand our business in Spain and exploit the synergies between our various companies in Europe. This makes us an attractive partner for customers and suppliers throughout Europe.”
Indukern's Industrial Chemicals division generated sales of 80 million euros with 70 employees in the last financial year. Daniel Díaz-Varela, managing director of Indukern, states “we have decided to sell this division as it considered not being strategic in Indukern's structure and as it considered not finding enough synergies with the rest of the activities of our company. Our goal is to focus in another priority areas, as Flavours & Fragrances or Food Ingredients for example, which have grown most lately. Maintaining this division without not developing all its potential and without strong inversions would have been a mistake”.
Indukern's warehouses in Barcelona and Valencia will be taken over by STOCKMEIER and will continue to serve as transhipment points for inorganic, organic products and specialty chemicals. With the additional sales offices, STOCKMEIER Química SL will be represented throughout Spain.
About STOCKMEIER Group
Founded in 1920, The STOCKMEIER Group is a family-owned company based in Bielefeld, Germany, which has a strong European presence in industrial chemicals distribution with further locations in Benelux, France, Austria, Poland, the Czech Republic, Hungary, Romania and Slovakia and now Spain. The Group had grown significantly in Central Eastern Europe recently through the acquisition of the Austrian company HDS-Chemie and the opening of a new sales office in Hungary. The STOCKMEIER Group also comprises companies that are engaged in the production of chemicals and worldwide the Group has 1300 employees and 40 locations.
Source(s): Stockmeier Press release