Brenntag, a global market leader in chemicals and ingredients distribution, announcesd the acquisition of the US-located Storm Chaser Holding Corporation (“JM Swank”) from Platinum Equity.
The company is a leading distributor of food ingredients and reported sales of approximately $500 million in 2020. With an enterprise value of $304 million, this is a decisive step in expanding Brenntag’s position in the North American Nutrition industry and a key acquisition aligned with Brenntag’s M&A strategy.
The acquired company offers a highly diversified product portfolio of food ingredients such as spices, dairy, grain, sweeteners, fats & oils, texturants, flavors & colors, starches, cocoa, and inclusions. JM Swank’s broad product line perfectly complements Brenntag’s existing portfolio in the Nutrition industry.
Closing of the acquisition is subject to certain contractual conditions and regulatory approvals and is expected to be completed within Q3 2021.