Brenntag
(ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, today announced the acquisition of
Shanghai Saifu Chemical Development Co., Ltd.
("Saifu"), one of the most respected market leaders in specialty distribution with expertise in Personal Care Chemicals in
China
.
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
, comments: "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
71 million EUR
in 2022. Closing of the transaction is expected in later this year, after the fulfilment of customary closing conditions.
