Ingredients distributor Barentz International has entered into an agreement to buy specialty distributor Maroon Group, in an effort to expand its North America footprint.
Based in Ohio, Maroon is a supplier of specialty chemicals and life science ingredients to the pharmaceutical, food and nutrition markets across the US and Canada.
Founded in 1977, Maroon reportedly generates an annual turnover of approximately $500 million, has around 300 employees and a network of more than 40 warehouses.
Barentz’ says the acquisition will expand its activities and is aligned with its strategy to become a global leader in the life science and broader specialty chemical industries.
The deal is the latest in a series of moves by Barentz to expand its global footprint, including joint ventures with Pakistan-based Matco Foods and South Africa-headquartered SK Chemtrade Services.
To date, the Netherlands-headquartered company has operations in more than 60 countries with a strong presence in Europe and Asia and a growing presence in North America and Latin America.
Following the deal, Terry Hill, CEO of Maroon Group, and his entire management team will continue to manage the operations of the business.
He said: “The deciding factor was that Barentz is already a global business and this creates tremendous opportunities to strengthen our business in North America and internationally.
“Barentz is well-known across the industry, we share the same philosophy and entrepreneurial DNA, and is the best possible new home for the stakeholders across our business.”
Hidde van der Wal, CEO of Barentz, added: “Our product portfolios are very complementary. We have no conflicts of interest and we can learn a lot from each other.
“Maroon Group has significant scale in North America – the biggest economy of the world, where we were small, until today. The combination will immediately make Barentz a leading global distributor with an excellent opportunity to establish new business segments in North America. It is a natural combination that enables us to offer quality and expertise to our combined customer base.”
The deal has been made for an undisclosed sum and is expected to close this quarter.
© FoodBev Media Ltd 2019