Brenntag Buys UK’s ICL Packed
Brenntag has strengthened its water treatment business in the UK with the acquisition of ICL Packed, its second purchase this year so far. Financial terms of the deal, which was signed and closed on the same day, were not disclosed.
“We see a very positive outlook for the water treatment business in the UK over the years to come due to population growth and the increased pressure on environmental quality,” said Steven Terwindt, member of Brenntag Group’s management board and chief operating officer of Brenntag Essentials. “The acquisition will not only strengthen our position in water treatment, but also in core market sectors in the region.”
The transaction also includes a supply agreement between Brenntag and ICL, which is a large manufacturer of caustic soda, hydrochloric acid, aluminum coagulants and sodium hypochlorite. The acquired business is expected to generate sales of approximately £11 million in the 2020 fiscal year 2020.
Just a few days ago, Brenntag also announced the purchase of a 67% shareholding in Chinese specialty ingredients distributor Zhongbai Xingye. The Germany-based multinational distribution group intends to buy the remaining 33% by the end of 2024.
Author: Ellaine Burridge, Freelance Journalist
