Brenntag acquires distribution division of India-based Zytex Group
Mary Page Bailey
Brenntag (Mülheim an der Ruhr, Germany; www.brenntag.com), a global market chemical distributor, has signed an agreement to acquire the chemical distribution division of the Zytex Group, a biotechnology food formulation and manufacturing company in India, by means of an asset deal. The acquired food ingredients distribution business will become part of Brenntag India, headquartered in Mumbai.
The acquired business has its focus on enzymes and yeast for a broad application range in the food and beverage industries in India. With this acquisition Brenntag is further strengthening its Nutrition and Health business in India by adding new customer segments and products to its portfolio as well as further expanding its strategic relationships with key global suppliers.
Brenntag expects the acquired business to generate annual sales of € 7.0 million and gross profit of € 1.8 million in the financial year 2013. The investment amount will be € 10.2 million. The transaction is expected to be closed in September.