German-based Brenntag Acquires China’s Specialty Chemicals Distributor Shanghai Saifu
- Chaileedo Press
- Jun 23, 2023
- 2 min read
Brenntag, the German-based chemicals and ingredients distributor, announced the acquisition of Shanghai Saifu Chemical Development Co., Ltd, a distributor of personal care chemicals in China.
Brenntag, which holds the leading position in the distribution of chemicals and ingredients on a global scale, has declared that it has acquired Shanghai Saifu Chemical Development Co., Ltd (hereinafter referred to as Saifu). The acquisition is expected to enhance Brenntag's expertise and presence in China.
Brenntag stated that the acquisition of Saifu in China aligns with its acquisition strategy as a prominent consolidator in the industry and its objective of positioning Brenntag Specialties as the preferred global service partner for innovative and sustainable solutions.
Saifu, established in 2005, has been a top distributor of specialty chemicals to various industries such as home and personal care, coatings and inks, polymer emulsions, household and industrial cleaning, and more.
In 2022, Saifu's annual revenue amounted to €71 million ($78.02 million). The transaction is anticipated to be completed later this year after fulfilling the standard closing conditions.
Saifu is headquartered in Shanghai and also operates two subsidiary companies in Guangzhou and Beijing. In addition, the company has a Technical Application Center with two laboratories devoted entirely to providing technical support. With a staff of over 100 employees possessing strong chemistry backgrounds and experience, the Saifu group of companies is well-equipped to provide quality service.
Michael Friede, Chief Operating Officer of Brenntag Specialties, said: “We are taking great strides with the execution of our ‘Strategy to Win’ and growing in attractive markets, especially within the Life Sciences sector. Joining forces with Saifu in China is a significant step, expanding our global Specialties footprint in the region and in the Asian Personal Care market and strengthening our value-added services offering and innovation capabilities.”
Yu Tao, Managing Director of Saifu: “Our customers, suppliers, shareholders, and our employees will greatly benefit from becoming part of Brenntag, which is the largest chemical and ingredients distribution company in the world. We are built on the principles of value and responsibility, attributes which Brenntag stands for as well, and we hope to grow and continue to serve our current and future customers and supply partners as part of the Brenntag family.”
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