STOCKMEIER Group expands in Spain with Asset Deal for Industrial Chemicals
Chemicals distributor STOCKMEIER Group (Bielefeld, Germany) has acquired the industrial chemical distribution division of Grupo Indukern (El Prat de Llobregat (Barcelona), Spain) effective 01. March 2019 for an undisclosed sum. The business has been absorbed by a newly formed local subsidiary, Stockmeier Química S.L.U. (Madrid, Spain).
The acquired unit most recently had sales of ca. EUR 80 mn per annum and a staff of 60 employees. The two warehouses, located in Barcelona and Valencia, will be taken over by STOCKMEIER. They will continue to serve as transhipment points for inorganic, organic products and specialty chemicals, the company said in the announcement.
According to Daniel Díaz-Varela, Managing Director of Grupo Indukern, a strategy review has revealed a lack of synergies with other parts of the group. He said that Indukern will focus on its remaining four divisions: Flavours & Fragrances, Food Ingredients, Animal Nutrition, Pharma and Animal Health in the future.
Source: Stockmeier website
HGE / DCG – 05.03.2019