- Colony Gums is a US-based manufacturer of stabilizer blends and a blending services provider
- This acquisition will strengthen and expand Brenntag’s services and product portfolio in the nutrition industry
Brenntag [ISIN DE000A1DAHH0], 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.
Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,500 employees worldwide and operates a network of about 600 sites in 72 countries. In 2022, Brenntag generated sales of around 19.4 billion EUR. The two global divisions, Brenntag Essentials, and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed on the Frankfurt Stock Exchange since 2010 in the DAX since September 2021. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com.