June 20 2023, David R Brown
Brenntag Specialties significantly expands Life Science presence in China with acquisition of Shanghai Saifu Chemical
Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, has announced the acquisition of Shanghai Saifu Chemical Development Co., Ltd. ("Saifu"), one of leading distributors of specialty chemicals and raw materials to the Personal Care market in China.
Joining forces with Saifu in China is a significant step, expanding our global Specialties footprint in the region and in the Asian Personal Care market
Michael Friede
Chief Operating Officer of Brenntag Specialties
The acquisition of Saifu in China fits Brenntag's acquisition strategy as a leading consolidator in the industry and the goal of positioning Brenntag Specialties as the global go-to service partner for innovative and sustainable solutions.
Michael Friede, Chief Operating Officer of Brenntag Specialties, commented: “We are taking great strides with the execution of our 'Strategy to Win' and growing in attractive markets, especially within the Life Sciences sector. Joining forces with Saifu in China is a significant step, expanding our global Specialties footprint in the region and in the Asian Personal Care market and strengthening our value-added services offering and innovation capabilities.” He added: “I want to welcome all our new colleagues of the Saifu team to Brenntag and look forward to expanding our reach and customer base here in China and in Asia Pacific together with you.”
Founded in 2005, Saifu distributes personal care ingredients, coatings, emulsion polymerization, and cleaning chemicals and provides related solution services. The company currently has over 100 employees and serves more than 1,000 customers in the Greater China region. Saifu provides customers with formulation expertise and product innovation services through a dedicated technology application center with two laboratories.
Yu Tao, Managing Director of Saifu: “Our customers, suppliers, shareholders, and our employees will greatly benefit from becoming part of Brenntag, which is the largest chemical and ingredients distribution company in the world. We are built on the principles of value and responsibility, attributes which Brenntag stands for as well, and we hope to grow and continue to serve our current and future customers and supply partners as part of the Brenntag family.”
Saifu had an annual revenue of EUR 71 million in 2022. Closing of the transaction is expected in later this year, after the fulfilment of customary closing conditions.
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 17,500 employees worldwide and operates a network of about 600 sites in 72 countries. In 2022, Brenntag generated sales of around 19.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries.
Source(s): Brenntag Press Release
Further Information
Visit: https://www.brenntag.com