Brenntag to acquire Taiwanese distributor Neuto Chemical
The company is headquartered in Taipei and focuses on the distribution of specialty and industrial chemical products to a variety of industries such as electronics, coatings, textile and metal working. Henri Nejade, member of the management board of Brenntag Group and CEO Brenntag Asia Pacific: “The acquisition strengthens our position in Taiwan. With the electronics, coatings and textile industry being served, Neuto is a complementary fit to our today’s Brenntag Taiwan business focusing on health and nutrition.”
Investment in the Taiwanese market
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group: “There is great potential to generate synergies in the coming years via the leveraging of Brenntag’s suppliers with the Neuto’s more than 850 customers and cross selling from Neuto’s product portfolio to Brenntag’s local customers. Furthermore, we see opportunities to expand the Taiwanese supply base throughout the rest of the Asian Pacific market.”
The target business generated sales of approximately EUR 26.2 million in the financial year 2018. Closing of the transaction is subject to certain contractual closing conditions and regulatory approvals and is expected to occur in the first half of 2020.