Brenntag Acquires Stake in Saudi Arabia-Based Al-Azzaz Chemicals
Brenntag recently announced that it has entered a partnership with Al-Azzaz Chemicals Co. via a 75/25 joint venture. While Brenntag has been active in Saudi Arabia, this joint venture reportedly expands the company’s presence and footprint with one of the largest specialty chemicals distributors on the Arabian Peninsula.
Al-Azzaz Chemicals generated sales of €25 million (approximately $26.7 million) in its 2021 fiscal year. Closing of the transaction is expected to be completed in August 2022.