Brenntag sells non-core entity Biosector
Brenntag, the global market leader in chemical distribution, has signed an agreement to divest Brenntag Biosector A/S, Denmark, to Croda International for a total consideration of €72 million.
Brenntag Biosector is a leading adjuvant specialist for vaccines suitable for use in both human and veterinary vaccines. The product portfolio comprises well-known and innovative aluminium-based and saponin-based adjuvants. The company is headquartered in Denmark and has its own production site there.
Karsten Beckmann, Member of the Board of Management of Brenntag Group and CEO Brenntag Europe, Middle East and Africa (EMEA): “With its focus on developing and manufacturing high-quality adjuvants, Biosector holds a unique position within the Brenntag Group and, although very successful, it is a non-core business for us.”
Anthony Gerace, Brenntag Group’s Managing Director Mergers & Acquisitions: “We believe it is the right time to hand over Biosector to a company that is well positioned and focused on the health care sector. We are confident that Croda will further develop the business and take it to the next level globally.”
The transaction is expected to close by the end of 2018.