MOSCOW (MRC) -- DKSH announced the acquisition of Andreas Jennow, a top-ranking specialty chemicals distributor in Northern Europe, said the producer in the press release.
With this move, DKSH Business Unit Performance Materials strengthens its geographic coverage in Europe, complements its market leadership in Asia and drives forward the consolidation of the chemical distribution industry.
With its Business Unit Performance Materials, DKSH provides distribution services for its clients and suppliers in the chemical, personal care, pharmaceutical and food industries. In addition, DKSH offers sourcing services for specialty products from numerous markets across Asia, Europe and the Americas. Performance Materials is the only Business Unit of DKSH where product and service flows are managed from Europe to Asia and vice versa.
Founded in 1916 and with net sales of around CHF 30 million at sound profitability in 2014, Andreas Jennow is a leading specialty chemicals distributor and major supplier of raw materials in Northern Europe and in the Baltics. The company has activities in Denmark, Sweden, Finland, Norway, Iceland, Estonia, Latvia and Lithuania. Andreas Jennow offers the full product range for the specialty chemicals and personal care industries. The acquisition is immediately earnings accretive.
Peter From, Managing Director of Andreas Jennow stated: "With this transaction, we create an ideal succession solution and a solid foundation for the future development of our almost 100-year-old company. DKSH’s global platform makes the company an ideal new owner. Beyond ensuring the successful continuation of our business, DKSH will provide our clients and customers the opportunity for regional expansion and access to a larger product portfolio."
Andreas Jennow’s well-regarded management team stays with DKSH, will lead the operations in the Nordics and in the Baltics and strengthens the Business Unit organization further.
As MRC informed earlier, DKSH and BTC Chemical Distribution, a subsidiary of BASF, started a strategic collaboration for colorants in the personal care and household industries in 14 Asian countries.
DKSH Business Unit Performance Materials is a leading specialty chemicals distributor and provider of market expansion Services for performance materials, covering Europe, North America, and the whole of Asia. The Business Unit sources, develops, markets, and distributes a wide range of specialty chemicals and ingredients for pharmaceutical, personal care, food & beverage, as well as various industrial applications.