BNTGF - Brenntag to buy Storm Chaser Holding from Platinum Equity

Brenntag (BNTGF) announces the acquisition of the U.S.-located Storm Chaser Holding Corporation ((JM Swank)) from Platinum Equity.JM Swank is a leading distributor of food ingredients and reported sales of approximately $500 million in 2020.With an enterprise value of $304 million, this is a decisive step in increasing Brenntag's position in the North American Nutrition industry and a fundamental acquisition aligned with Brenntag's M&A strategy.The closing of the acquisition is subject to contractual conditions and regulatory approvals and is expected to be completed within Q3 2021.Christian Kohlpaintner, CEO of Brenntag SE: "..This strategic acquisition will double Brenntag's size in the Nutrition business in the region and thus creates the leading food ingredients and food process chemicals distributor in North America with approximately one billion US dollars in revenue This acquisition is fully in line with our M&A strategy as it accomplishes key strategic objectives: acquiring companies generating a meaningful operating EBITDA

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Brenntag to buy Storm Chaser Holding from Platinum Equity