October 20 2021, David R Brown
Biesterfeld Group expands its presence in Asia through the acquisition of GME Chemicals
The Biesterfeld Group, Hamburg, has acquired a majority stake in Singapore-based GME Chemicals, a leading distributor of specialty chemicals and polymers in South-East Asia. According to the terms of the contract agreed with the shareholders of GME Chemicals, Biesterfeld will acquire the outstanding shares in GME Chemicals in 2026. The deal fits with Biesterfeld's growth strategy and lays the foundation for a targeted and long-term expansion of its core business in one of the world's fastest-growing regions.
The GME portfolio is an excellent addition to the Biesterfeld Group and we are gaining highly qualified employees. I look forward to the cooperation and a successful future togetherDirk Biesterfeld
Chairman of the Supervisory Board of Biesterfeld AG
GME Chemicals was established in 1999 and has since expanded its regional presence through the formation of operating subsidiaries in Malaysia, Indonesia, Vietnam, Thailand and China. The company imports, stocks and distributes specialty chemicals and polymers into diverse markets such as petrochemicals, automotive, construction, consumer, food and pharmaceuticals.
Dirk Biesterfeld, Chairman of the Supervisory Board of Biesterfeld AG, explained: “Asia is a significant growth market and of strategic importance to us. Here, too, we want to significantly increase our market presence together with our suppliers. As a family-owned company, reliability, a long-term commitment, and the joint cooperation of all employees are particularly important to us. The GME portfolio is an excellent addition to the Biesterfeld Group and we are gaining highly qualified employees. I look forward to the cooperation and a successful future together.“
Thomas Arnold, CEO of Biesterfeld AG added, “ We have been growing very successfully with our principals for years and are expanding into new markets together. We are continuing on this course with our entry into GME Chemicals. We are strengthening and expanding our competencies and, together with our new colleagues, we will drive forward our strategy of continuous expansion in Asia and jointly develop further markets and segments for Biesterfeld.”
Philip Chew, Managing Director and shareholder of GME Chemicals, commented, “In Biesterfeld, we have not only found a majority shareholder and, in the future, a new owner, but a true partner. We share the same business view and the same values. I look forward to our continued journey as part of the Biesterfeld Group.”
The parties have agreed not to disclose details of the transaction. All GME Chemicals' 60 employees will be remaining with the company along with the current management team and owners.
About Biesterfeld AG
Biesterfeld AG is the parent company of the Biesterfeld Group, active for 115 years as a trading and service company. The group is one of the leading companies in the distribution of chemicals and polymers with over 40 locations in Europe, North and South America, Asia and Africa. The family-owned group of companies aims at steady, profitable growth in the future of its four business divisions, namely Biesterfeld Plastic, Biesterfeld Spezialchemie, Biesterfeld Performance Rubber and Biesterfeld International.
Source(s): Biesterfeld Press Release