Germany-based chemical distribution major Brenntag has
signed an agreement to acquire Petrolube, the exclusive
distributor of Infineum specialty fuel and oil additives based
in Milan, Italy.
For the financial year 2012, the Italian company expects an
EBITDA of about 0.8 million.
The acquisition follows Brenntag's acquisition of Multisol
Group, a specialist in the distribution of lubricant additives
and base oils in Europe and Africa in November
In addition, the deal further strengthens Brenntags
strategic relationship with Infineum, a market-leading
manufacturer of specialty fuel and oil additives, the company
We are delighted with the successful acquisition of
Petrolube and the significant contribution it will bring to our
existing lubricants and additives business in Italy, said
Karsten Beckmann, chief operating officer for Brenntag's European business.
Financial terms were not disclosed.