Colombia. The chemical company Brenntag revealed that it has reached an agreement to acquire Conquímica S.A., a chemical distribution company that is based in Medellín, and is mainly active in the supply of industrial and specialized chemicals for the coatings, food and cleaning industries.
Conquímica operates four warehouses in the main economic areas of the country. Germán Torres, CEO of Brenntag Latin America commented: "Conquimica is an attractive investment to extend our geographical coverage and distribution network in Colombia. The company's broad product portfolio and well-developed infrastructure complement Brenntag's offerings to customers in important focus industries."
Anthony Gerace, Managing Director of Brenntag Group Mergers and Acquisitions, said: "Conquímica is a strategic adjustment that strengthens Brenntag's presence in Colombia. The combination of Conquimica's product portfolio with Brenntag's market reach and expertise will greatly benefit our customers throughout the Colombian market."
The company is expected to generate total sales of approximately $48.4 million in fiscal 2017. The agreement is subject to review and approval by the authorities of the local trade commission. Closing of the transaction is expected to occur in the second or third quarter of 2018.
