Brenntag (Mülheim an der Ruhr, Germany) has agreed to acquire Chimab SpA (Padua, Italy), a supplier of food ingredients and semi-finished products for several food subsectors, including beverage, ice cream and desserts, meat and prepared foods.
“With food ingredients and services being a strategic focus industry for Brenntag, this acquisition will further increase the market penetration of Brenntag in Italy and provide more value added services to new sectors within the food industry,” said Karsten Beckmann, CEO of Brenntag Europe, Middle East and Africa.
For the financial year 2014, Chimab is expected to generate sales of more than EUR 32 million. The companies expect to close the transaction within the coming weeks.