Brenntag acquires lubrication business in the US
Brenntag has signed an agreement to acquire the lubricants division of Reeder Distributors, Inc. that is a regional, integrated lubricant distributor headquartered in Fort Worth, Texas, USA. Reeder Distributors’ fuel and equipment divisions are not part of the acquisition. The company services automotive customers as well as all types of industrial and commercial customers mainly throughout the Dallas-Fort Worth market place.
Markus Klaehn, Member of the Management Board of Brenntag Group and CEO Brenntag North America: “Brenntag North America intends to be an active market consolidator in selected regions in the lubricant distribution market. The acquisition of Reeder Distributors’ lubricants division is a bolt-on to our lubricants business platform and results in a geographical expansion in an adjacent market.”
Anthony Gerace, Brenntag Group’s Managing Director Mergers & Acquisitions: “Reeder Distributors’ lubricants division is a natural addition to our existing lubricants business because of its relationships with major lubricant suppliers and the acquisition will enable Brenntag to expand and strengthen our footprint in the regional market place.”
Reeder Distributors’ lubricants division generates annual sales of approximately 60 million USD. Closing of the transaction is subject to certain contractual closing conditions and is expected to occur in the course of the first quarter of 2019.
Other news from the department business & finance
