Expansion in Central U.S. Region with “Bolt-on” Acquisition covering Oklahoma
Global chemical distributor Brenntag AG (Essen, Germany) today announced the acquisition of B&M Oil Company [“B&M”] (Tulsa, OK – United States), a regional lubricants distributor engaged in the sale, marketing and distribution of lubricants to automotive, industrial, commercial, construction, and agricultural consumers throughout the entire state of Oklahoma. According to Brenntag, the products distributed are primarily from ExxonMobil, including Mobil™-branded Passenger Vehicle, Commercial Vehicle and Industrial Lubricants.
According to Markus Klaehn, Member of the Management Board of Brenntag Group and CEO Brenntag North America, the transaction provides a good add-on to the the group’s lubricants distribution platform in the Central U.S. Region. This was established ca. three years ago, when Brenntag acquired J.A.M. Distributing Company, LLC (Houston, TX – United States) in November of 2015.
For FY2018, the acquired company reported total sales of approx. USD 28.5 mn (ca. EUR 24.6 mn). No financial details were disclosed on the transaction.
Source: Brenntag press release
HGE – DCG / 28.06.2019