German chemical distributor Stockmeier has expanded its presence in Austria and eastern Europe following the acquisition of a stake in HDS-Chemie as of Jan. 1. The size of the stake and financial terms were not disclosed.

The Bielefeld-based group has added sites in Vienna, Austria; Bratislava, Slovakia; and Iasi, Romania, serving markets in Hungary, the Czech Republic, Poland, Slovenia, Croatia, Serbia, Bosnia, Bulgaria and Macedonia.

“With this strategic partnership, we’re planning on expanded market penetration through a high-quality distribution channel in Austria and eastern Europe with a clear focus on specialty chemicals,” said Peter Stockmeier, CEO of the German group.

Commenting on the deal, Christan Schuster, managing partner of HDS-Chemie, said the Vienna-based company has gained a strong partner that will provide long-term support along its growth path.

SFC Stockmeier in Vienna will be merged into HDS-Chemie from Mar. 1.