Brenntag expands food and nutrition business in China with acquisition of specialty ingredients distributor Zhongbai Xingye

摘要

Brenntag a global market leader in chemical and ingredients distribution, recently signed an agreement to acquire the majority of Zhongbai Xingye Food Technology (Beijing) Co., Ltd, starting with a 67% stake valued at an Enterprise Value of about Eur90 million. The Chinese company is dedicated to the distribution of a wide variety of specialty food ingredients, including dairy products and proteins. Christian Kohlpaintner, CEO Brenntag Group, highlights the significance of the acquisition for Brenntag's business strategy: "The chemical distribution market in Asia Pacific and especially in China is growing dynamically. We see a substantial potential there and we will strengthen the focus on the region in terms of our M&A strategy. Thus, Zhongbai Xingye is perfectly in line with Brenntag's ambitions not only geographically but also in terms of industry segment and deal size. The acquisition of the leading player in mainland China is an important step for our company to become a full-line distributor of food ingredients in the Asian market."