Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical and ingredients distribution, announces the acquisition of the operating assets of US- based Suffolk Solutions, Inc’s caustic soda distribution business.
“The business and the related terminals of Suffolk Solutions fit seamlessly into our ambitions to further link Brenntag’s caustic soda network in the Eastern United States. There is great potential to strengthen our supply chain and expand our customer base in this geography,” says Steven Terwindt, Member of the Management Board of Brenntag Group and CEO Brenntag North America.
The Virginia headquartered company, founded in 2005, has access to a bulk terminal as well as to a rail transloading facility within the state. The business relies on long-term suppliers and a loyal customer base.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group, summarises the locational advantages of the acquisition: “Suffolk Solutions will strengthen Brenntag’s footprint in the Virginia market and thus enable us to improve our logistical infrastructure throughout the region. It will provide us with greater supply flexibility, manoeuvrability and additional storage capacity on the east coast of the United States.”
The acquired business generated sales of approximately USD 15.6 million in a 12-month period ending April 30, 2020.