(RTTNews) - Chemicals and ingredients distributor Brenntag SE (BNTGF.PK) announced Thursday the agreement to acquire Solventis Group, a glycols and solvents distribution company operating from Antwerp, Belgium, and from the UK. Financial details of the deal are not being disclosed.
Established in 2002 and based in the U.K., the family-owned company encompasses multiple entities, including Solventis, Kilfrost Europe, Antwerp Distillation Company, Solventis Solutions, and Solvenox.
Alongside a site in Scunthorpe, UK, the company operates a purpose-built facility in the port of Antwerp, Belgium, a major European chemicals hub, engaging in advanced blending, storage, packing, distribution, and chemical recycling.
The acquisition, especially with its strategically positioned Antwerp site, also improves Brenntag Essentials' sustainability profile with increased sourcing via ships and barges, as well as expanded supply and delivery options through rail transport.
In addition, Solventis' proficiency in glycol recovery and recycling further enhances Brenntag's sustainability profile.
The closing of the transaction is subject to customary conditions including regulatory approvals and is expected in the second quarter of 2024.
