Brenntag Specialties agrees to acquire Colony Gums, strengthening Life Science portfolio in North America 20th September 2023
- Colony Gums is a US-based manufacturer of stabilizer blends and a blending services provider
- This acquisition will strengthen and expands Brenntag’s services and product portfolio in Nutrition
Brenntag, the leader in chemicals and ingredients distribution, today announced an agreement to acquire Colony Gums, Inc., a US-based manufacturer of stabilizer blends and a blending services provider. The acquisition is expected to complement and expand Brenntag’s product portfolio and services in Life Sciences, primarily in Nutrition.
Michael Friede, CEO of Brenntag Specialties, commented: “Colony Gums will complement our existing business and enable us to serve customers with stabilizer blends, blending solutions and hydrocolloids in our growth market of Nutrition, and other customers in Life Sciences markets globally. This is part of our ‘Strategy to Win’ to expand and fill white spots in our Life Science portfolio.” He added “I look forward to working with our new colleagues in Monroe and am excited to welcome them to the Brenntag team.”
Colony Gums is a family-owned distributor headquartered in Monroe, North Carolina. The company has grown into a specialty ingredients supplier and blending services provider over several generations, with now more than 30 employees, servicing customers in North America. In 2022, the company reported annual sales of 38 million USD.
Robert Muhlsteff, President of Colony Gums, added: ”Our team strives to enable customer growth and exceeding the expectations of our customers. I am excited to bring Brenntag customers our formulation expertise on stabilizer blends and individual hydrocolloids, and adding Brenntag’s broad portfolio of products and solutions to our offerings.”
Financial details of the deal are not being disclosed. Closing of the transaction is subject to customary conditions including regulatory approvals and is expected in Q4 of 2023.