Brenntag signs bolt-on acquisition of Chemgrit Cosmetics in South Africa
Brenntag has signed an agreement to acquire the operating business of Chemgrit cosmetics (Pty) Ltd., headquartered in Johannesburg, South Africa. The company, part of the larger Chemgrit chemicals group, is an independent specialty chemical distributor in South Africa with a focus on personal care and cleaning markets.
Karsten Beckmann, Member of the Management Board of Brenntag Group and CEO Brenntag Europe, Middle East and Africa: „With the acquisition of Chemgrit Cosmetics we expand the industry segment and scope for Brenntag South Africa in specialties. The company’s cosmetics focus perfectly complements our existing national food and pharma business and supports our ambition to achieve a strong position and comprehensive offering in South Africa.”
Chemgrit Cosmetics operates three warehouses, located in Johannesburg, Durban and Cape Town, and an in-house laboratory to provide its customers with value-added services including mixing, refilling, redistribution & delivery, formulating & testing of materials and products and other technical support.
Anthony Gerace, Brenntag Group’s Managing Director Mergers & Acquisitions: “Based on a dedicated structure and team, Chemgrit Cosmetics has a strong foothold in Personal Care which is one of the fastest growing market segments in South Africa and sub-Saharan Africa. Brenntag can use its existing structure in East and West Africa as well as Maghreb to roll out the cosmetics business line in the region.”
The acquired business generated sales of approximately 5 million EUR in the financial year 2018. Closing of the transaction is subject to certain contractual closing conditions and is expected to occur in the course of the 3rd quarter of 2019.
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