Germany’s Brenntag permitted to acquire Kenya’s Desbro
The Germany chemicals company, Brenntag AG, has entered into an agreement to acquire the Kenyan firm Desbro Limted.
The Competition Authority of Kenya (CAK) has approved the acquisition on the grounds that Brenntag continues to employ all 80 of Desbro’s staff, reported Business Daily.
“With Desbro we are acquiring a leading and well respected market player,” stated Karsten Beckmann, Member of the Board of Management of Brenntag Group and CEO Brenntag Europe, Middle East and Africa (EMEA), according to Middle East Plast.
“The company provides us the needed market expertise, organization and infrastructure to build on our strategy to claim outstanding Africa coverage.”
“Combined with Brenntag’s knowhow and existing product and supplier portfolio we will create an overall presence and offering in both Africa and the Middle East.”
“East Africa is a sizeable market for chemical distribution to which Brenntag now gains access via this acquisition,” commented Anthony Gerace, Managing Director of Mergers & Acquisitions at Brenntag Group.
“We will now be in a position to extend the cooperation with our existing suppliers and attract additional suppliers in the region to support them in growing their customer base.”
“In particular, we see high potential to accelerate the growth of our Material Science business and to improve the market share in Life Sciences.”