Barentz Boosts European and US Presence
Noack has an extensive presence in Austria, where it is headquartered, as well as in Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Serbia, Slovakia and Slovenia. In addition, it cooperates with local partners in adjacent countries, including Northern Macedonia, Bosnia & Hercegovina and Moldovia.
The Vienna-based company, which had a turnover of €60 million in 2020, distributes ingredients for the animal nutrition and feed industryand also specializes in agro food- and veterinary diagnostics, offering a wide range of testing systems.
Barentz said Noack’s portfolio is complementary to its own broad range of animal nutrition ingredients, adding that both parties expect to grow rapidly in Central Europe as a result of the transaction.
“Our European animal nutrition activities have a very strong presence in western Europe, and our local expertise, supported by our technical teams, fits uniquely with Noack’s product portfolio,” said Barentz CEO Hidde van der Wal. “Noack assists us with the expansion into Central Europe and opens many new territories. This takeover is a natural fit and will create strong potential growth for Noack’s customers and suppliers.”
Financial terms and the size of Barentz’ stake were not disclosed. Noack’s CEO, Herbert Völkerer, will remain with the group.
In separate news, Maroon Group, which Barentz acquired late last year, has bought the raw materials and specialty chemicals distribution business of US-based The Cary Company for an undisclosed sum.
The Cary Company said the move is part of a strategic restructuring that allows it to focus on its core containers and packaging business. It added that it will continue to provide Maroon with warehousing, logistical and customer services as a “high priority.”
“Following the acquisition of Maroon Group in December 2020, we established a platform in North America from which we could pursue targeted growth through strategic acquisitions and expansion opportunities with our principal suppliers,” said van der Wal. “This transaction exemplifies this strategy and further strengthens our market-leading position in core markets.”
As part of Barentz’ North American coatings, adhesives, sealants and elastomers (CASE) and plastics market vertical, the newly acquired business will maintain focus on its core markets, while leveraging access to its new owner’s global footprint, operational infrastructure and digital capabilities to accelerate growth.
Author: Elaine Burridge, Freelance Journalist