Orica Acquires Leading Specialty Food & Fine Chemicals Distributor

27-Apr-2004

Orica Limited announced the continued expansion of its food and fine chemicals distribution business with the acquisition of leading Australasian specialty distributor, Bronson and Jacobs for $110 million effective 1 June 2004. The purchase price could increase to a maximum of $120 million if certain agreed earnings targets are achieved.

Bronson and Jacobs has sales revenue of approximately $200million and is a major supplier of raw materials to industry sectors including food, cosmetics, industrial flavours, fragrances, pharmaceutical and essential oils. It has operations in Australia, New Zealand, Hong Kong, China, Thailand, Indonesia, Malaysia, Singapore and the UK.

Orica Managing Director and CEO Malcolm Broomhead, said that the acquisition represented a major, logical extension of Orica's chemical distribution business in these specialty sectors.

"Bronson and Jacobs is a very high quality company and a clear leader in its field. Orica is committed to retaining the strong Bronson and Jacobs brand and culture that has made it such a successful business within the Asia Pacific region.

The success and growth of the business and particularly its entry into China, is a tribute to the vision of the late Jack Jacobs, who founded the company in 1945. Since 1986, under the leadership of CEO Bill McCartney, the business has continued to expand its product range and geographical coverage, with the Asian business now accounting for more than 40% of sales revenue.

We are delighted that Bill McCartney and his key management team will remain with Bronson and Jacobs going forward.

https://www.chemeurope.com/en/news/36945/orica-acquires-leading-specialty-food-fine-chemicals-distributor.html