Brenntag to expand food and nutrition business in China with acquisition of specialty ingredients distributor Zhongbai Xingye

Essen (ots) - Brenntag (ISIN DE000A1DAHH0), the global market leader in chemical
and ingredients distribution, has signed an agreement to acquire the majority of
Zhongbai Xingye Food Technology (Beijing) Co., Ltd ("Zhongbai Xingye"), starting
with a 67% stake valued at an Enterprise Value of about EUR 90 million. The
Chinese company is dedicated to the distribution of a wide variety of specialty
food ingredients,including dairy products and proteins.

Christian Kohlpaintner, CEO Brenntag Group, highlights the significance of the
acquisition for Brenntag's business strategy: "The chemical distribution market
in Asia Pacific and especially in China is growing dynamically. We see a
substantial potential there and we will strengthen the focus on the region in
terms of our M&A strategy. Thus, Zhongbai Xingye is perfectly in line with
Brenntag's ambitions not only geographically but also in terms of industry
segment and deal size. The acquisition of the leading player in mainland China
is an important step for our company to become a full-line distributor of food
ingredients in the Asian market."

Yaqi Liu, Managing Director of Zhongbai Xingye: "On behalf of Zhongbai Xingye, I
extend a warm welcome to Brenntag. We are very pleased to become a part of the
Brenntag family and to be such an important cornerstone in their expansion
strategy. The food supplements industry has extraordinary potential worldwide
and especially in China that we will leverage together."

The 100% acquisition of the entire share capital of Zhongbai Xingye will be
executed in two steps: The first tranche comprises a majority stake of 67%. The
remaining 33% will be acquired by Brenntag by end of 2024.

Henri Nejade, Member of the Management Board of Brenntag Group and COO Brenntag
Specialties, comments: "Headquartered in the capital of China, the company
offers Brenntag the platform to extend our business of specialty food
ingredients in the country." He further mentions the strong historical track
record of the business: "Zhongbai Xingye results show strong growth rates over
the years." The business will be settled within the global division of Brenntag
Specialties.

The acquired business generated sales of approximately EUR 146 million over a
twelve-months period up to June 2020. Closing of the first tranche is subject to
certain contractual conditions and regulatory approvals and is expected to be
completed in the first half of 2021. Closing of the second tranche is expected
at the end of 2024.

Press contact:

Verena Blaschke
Brenntag AG
Global Communications
Messeallee 11
45131 Essen
Germany
Telephone: [phone]
E-Mail: mailto:[e-mail]
http://www.brenntag.com

Investor contact:

Thomas Altmann
Brenntag AG
Corporate Investor Relations
Messeallee 11
45131 Essen
Germany
Telephone: [phone]
E-Mail: mailto:[e-mail]
http://www.brenntag.com

Additional content: http://presseportal.de/pm/108645/4823984
OTS: Brenntag AG
ISIN: DE000A1DAHH0