Brenntag to Acquire China's Saifu and Expand in Asia Pacific
June 28, 2023 at 2:35:46 AM
Brenntag has agreed to acquire Shanghai Saifu Chemical Development, a Chinese distributor of chemical products, for an undisclosed sum.
With this deal, the German chemical-distribution company aims to expand its reach and customer base in China and Asia Pacific, Chief Operating Officer Michael Friede said. The transaction is expected to be completed later this year after the fulfillment of customary closing conditions.
Saifu had revenue of 71 million euros ($77.6 million) in 2022. The company currently employs more than 100 people and serves more than 1,000 customers in the greater China region.
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