News Article 2022

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March 3 2022, David R Brown

Brenntag enters the market in Israel with the acquisition of specialty chemicals expert Y.S. Ashkenazi Agencies

Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, has acquired the Israeli specialty chemicals distributor Y.S. Ashkenazi Agencies Ltd, along with its subsidiary, Biochem Trading. This acquisition represents Brenntag's entry into the Israeli market. Signing and closing of the acquisition occurred simultaneously.

The acquisition of Y.S. Ashkenazi Agencies is an excellent opportunity for us to gain a foothold in the highly developed and innovative market in Israel

Henri Nejade
Member of the Management Board of Brenntag SE and COO Brenntag Specialties

Henri Nejade, Member of the Management Board of Brenntag SE and Chief Operating Officer Brenntag Specialties:“The acquisition of Y.S. Ashkenazi Agencies is an excellent opportunity for us to gain a foothold in the highly developed and innovative market in Israel. With this local presence, which is vital for our business, we can further expand our specialty products and services to suppliers and customers in the fast-growing Food & Nutrition and Personal Care markets in the region. We also see opportunities to expand our value proposition with global key accounts that operate in these markets.”

“We are proud to join Brenntag, the world's leading specialty chemical distributor,” comments Yosi Cohen, CEO and President of Y.S. Ashkenazi Agencies.“This is a natural step for Ashkenazi as a top distributor of specialty chemicals in Israel to continue its growth with Brenntag Group.”

Y.S. Ashkenazi Agencies is one of the largest specialty chemical distributors in Israel and is located at Kibbutz Netzer Sereni, in close proximity to Ashod Harbor and Tel Aviv airport. Its extensive portfolio includes more than 500 specialty products, as well as value-added services and technical support. The businesses generated sales of approximately 39 million EUR in the 2021 financial year.

Anthony Gerace, Senior Vice President M&A Brenntag Group:“The acquisition of Y.S. Ashkenazi Agencies is perfectly in line with our M&A strategy in the region. Y.S. Ashkenazi Agencies is the market leader in Israel in the important markets of Personal Care and Food & Nutrition. Its comprehensive product portfolio, large customer base and reputation for quality provide an excellent opportunity for us to leverage this new platform in the region.”

About Brenntag
Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of more than 670 sites in 77 countries. In 2020, Brenntag generated sales of around 11.8 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a fullline portfolio of industrial and specialty chemicals and ingredients as well as tailormade application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares are listed at the Frankfurt Stock Exchange and are included in the MDAX and DAX 50 ESG.

Source(s): Brenntag Press Release

Further Information

Visit: https://www.brenntag.com