Brenntag extends its Lubricants Business Platform in the U.S. Northeast and Canada
Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) last week announced that the company has signed an agreement to acquire the lubricants business of NOCO Inc. (Tonawanda, NY, United States).
NOCO supplies high quality lubricant products to a broad range of industries in the Northeast region of the United States and parts of Ontario and Southern Quebec.
The business is expected to generate total sales of approximately US$ 209 mn in FY2016. The move allows Brenntag “to enter the Canadian lubricants market by acquiring an established distribution network operating in a major industrial region within the country”, according to the statement.
Closing of the transaction is expected to occur in the course of the next weeks, subject to contractually agreed closing conditions. The acquisition does not impact NOCO’s energy distribution or retail businesses, Brenntag said.
Source: Brenntag press release
HGE – DCG / 17.10.2016