Brenntag expands Lubricants Capabilities in Texas
Global chemical distributor Brenntag AG (Essen, Germany) on Wednesday announced that it has signed an agreement to acquire the lubricants division of Reeder Distributors, Inc. (Fort Worth, TX – United States of America), a regional, integrated lubricant distributor. Reeder Distributors’ fuel and equipment divisions are not part of the transaction.
The business services automotive customers as well as all types of industrial and commercial customers, mainly throughout the Dallas-Fort Worth region in Texas. Brenntag considers the acquisition a “bolt-on” to its existing lubricants business platform, which results in a geographical expansion into an adjacent market region, the announcement said.
The acquired business generates annual sales of approx. USD 60 mn. Closing of the transaction is subject to certain contractual closing conditions. It is expected to occur in the course of Q1-2019.
Source: Brenntag press release
HGE – DCG / 17.01.2019