September 4 2020, David R Brown
French-headquartered distributor, Snetor Group acquires compatriot Gazechim's Plastic business unit
Multinational plastics and chemicals distributor, Snetor Group have announced the acquisition of Gazechim Plastics from French compatriot Groupe Gazechim following approval from the relevant competition authorities. Financial details of the transaction weren't disclosed.
In order to accelerate our development on the European market started 4 years ago, we have chosen to join our forces with those of a major player in the distribution of plastics in EuropeEmmanuel Aubourg
CEO of the Snetor Group
Emmanuel Aubourg, CEO of the Snetor Group commented, “In order to accelerate our development on the European market started 4 years ago, we have chosen to join our forces with those of a major player in the distribution of plastics in Europe, with whom we share the same corporate culture and the same ambitions.”
The acquisition signifcantly extends the Snetor Group's engineering and commodity polymer distribution business in Europe. Gazechim Plastics has network of 30 branches and warehouses in 12 European countries, covering Benelux, Czech Republic, France, Iberia, Italy, Poland, Romania, UK and Scandinavia. The combined operation will have some 300 employees and a consolidated turnover in excess of EUR 1.2 billion, and a presence in Europe, Africa, the United States and Latin America.
The deal follows the week after the acquisition by Snetor of 70% of the distribution business of the Tecnopol in Italy, an operation that led to the creation of the Tecnopol Snetor Group which also resulted in the merger of the Spanish activities of Snetor Iberica and Tecnopol.
About Snetor Group
The Snetor Group is an international distributor and supplier of plastics and chemicals with operations in Africa, Europe, Latin America and the United States. The group carries out its plastics and chemical trading and distribution activities through three structures: Snetor Distribution (Europe for plastics), Snetor Chimie (Africa and LATAM for chemicals and plastics) and Snetor USA (North America for plastics). Key products include PE, PP, PVC, PE PS ABS and engineering polymers, polyols and TDI as well as industrial chemicals. In 2019 the Snetor Group had revenues in excess of EUR 1.1 billion.
Source(s): Snetor Press Release