Brenntag, the global market leader in chemicals and ingredients distribution, announced the acquisition of Shanghai Saifu Chemical Development Co., Ltd., one of the most respected market leaders in specialty distribution with expertise in Personal Care Chemicals in China.
The acquisition of Saifu in China fits Brenntag’s acquisition strategy as a leading consolidator in the industry and the goal of positioning Brenntag Specialties as the global go-to service partner for innovative and sustainable solutions.
Michael Friede, Chief Operating Officer of Brenntag Specialties, comments: “We are taking great strides with the execution of our ‘Strategy to Win’ and growing in attractive markets, especially within the Life Sciences sector. Joining forces with Saifu in China is a significant step, expanding our global Specialties footprint in the region and in the Asian Personal Care market and strengthening our value-added services offering and innovation capabilities.” He added: “I want to welcome all our new colleagues of the Saifu team to Brenntag and look forward to expanding our reach and customer base here in China and in the Asia Pacific together with you.”
Founded in 2005, Saifu distributes personal care ingredients, coatings, emulsion polymerization, and cleaning chemicals and provides related solution services. The company currently has over 100 employees and serves more than 1,000 customers in the Greater China region. Saifu provides customers with formulation expertise and product innovation services through a dedicated technology application center with two laboratories.
Yu Tao, Managing Director of Saifu: “Our customers, suppliers, shareholders, and employees will greatly benefit from becoming part of Brenntag, which is the largest chemical and ingredients distribution company in the world. We are built on the principles of value and responsibility, attributes which Brenntag stands for as well, and we hope to grow and continue to serve our current and future customers and supply partners as part of the Brenntag family.”
Saifu had an annual revenue of 71 million EUR in 2022. Closing of the transaction is expected later this year, after the fulfillment of customary closing conditions.