Brenntag to Buy Italian Food Ingredients Supplier
German chemical distributor Brenntag plans to acquire Chimab, an Italian supplier of food ingredients and semi-finished products for several food subsectors including beverage, ice cream and desserts, meat and prepared foods.
The company based near Padua expects sales of more than €32 million for 2014.
Karsten Beckmann, CEO of Brenntag Europe, Middle East and Africa, said the acquisition will further increase the distributor's market penetration in Italy and provide more value-added services to new sectors within the food industry. It is a cornerstone and important contribution towards establishing and promoting the specialty business unit Food in Italy.
Brenntag expects the transaction to close before the end of 2014.