Brenntag acquires Turkish specialty chemicals
Wednesday, November 18, 2015
Brenntag has signed an agreement to acquire Parkoteks Kimya San.(Istanbul), a distribution company that offers a range of specialty chemicals products with a focus on the personal care industry.
Financial details of the deal have not been disclosed. Parkoteks generated total sales of about €14.3 million ($16.2 million) in 2014, Brenntag says. The transaction will close in the course of the next weeks. "We established operations in Turkey over 10 years ago, and the country continues to be an attractive market for the chemical distribution business," says Matthias Compes, president of Brenntag CEE Central. He says that the acquisition will help Brenntag meet increasing demand for value-added products in various markets in Turkey.