Brenntag to acquire Zhongbai Xingye fro $172m.

Brenntag, a company operating in chemical and ingredients distribution, agreed to acquire Zhongbai Xingye, a Chinese company dedicated to the distribution of a wide variety of specialty food ingredients, for $172m. “The chemical distribution market in Asia Pacific and especially in China is growing dynamically. We see a substantial potential there and we will strengthen the focus on the region in terms of our M&A strategy. Thus, Zhongbai Xingye is perfectly in line with Brenntag’s ambitions not only geographically but also in terms of industry segment and deal size. The acquisition of the leading player in mainland China is an important step for our company to become a full-line distributor of food ingredients in the Asian market," Christian Kohlpaintner, Brenntag CEO.