Brenntag Enters Israeli Specialty Chemicals Distribution
Germany-based globally focused chemicals distributor Brenntag has entered the Israeli specialty chemicals distribution market, acquiring Y.S Ashkenazi Agencies and its subsidiary, Biochem Trading. Brenntag said signing and closing of the acquisition took place simultaneously. Financial terms were not disclosed.
One of the country’s largest specialty chemical distributors, the company based at Kibbutz Netzer Sereni, close to Ashod Harbor and Tel Aviv airport, has a portfolio of more than 500 specialty products, in addition to value-added services and technical support.
With sales of around €39 million in 2021, Y.S Ashkenazi Agencies is regarded as Israel’s market leader in the Personal Care and Food & Nutrition segments. Its comprehensive product portfolio, large customer base and reputation for quality will help Brenntag leverage this new platform in the region, said Anthony Gerace, senior vice president M&A at the Essen-headquartered group.
Author: Dede Williams, Freelance Journalist
(c) Brenntag
