German specialty chemicals distributor Brenntag said Friday it is acquiring UK-based peer Multisol for an undisclosed sum to expand its portfolio and gain a bigger presence in central and eastern Europe, and Africa.
Brenntag said the purchase of Multisol allows the company to further develop its market position in the distribution of specialty chemicals with a focus on lubricants and base oils including mixing and blending capabilities.
According to Brenntag, Multisol expects to generate sales of GBP 248 million ($402 million) for the year to 2012.
"Multisol seamlessly fits into our strategic approach to enlarge our product focus of specialty chemicals including value-added services in our core markets in the UK, western Europe, central and eastern Europe, and Africa," said Steven Holland, CEO of Brenntag.
Multisol distributes specialized solvents and chemicals and oil products such as specialized lubricants and lubricant additives.
Last year, it signed an exclusive distribution agreement for the UK with German chemicals group Oxea for a range of specialty esters, including specialty plasticizers for PVC and other resins.
