Brenntag Specialties to Acquire Colony Gums

Brenntag has announced an agreement to acquire Colony Gums, Inc., a US-based manufacturer of stabilizer blends and a blending services provider. The acquisition is expected to complement and expand Brenntag's product portfolio and services in Life Sciences, mainly in Nutrition. Michael Friede, Chief Executive Officer of Brenntag Specialties, said: "Colony Gums will complement our existing business and enable us to serve customers with stabilizer blends, blending solutions and hydrocolloids in our growth market of Nutrition, and other customers in Life Sciences markets globally. This is part of our 'Strategy to Win' to expand and fill white spots in our Life Science portfolio." He added "I look forward to working with our new colleagues in Monroe and am excited to welcome them to the Brenntag team." Colony Gums is a family-owned distributor headquartered in Monroe, North Carolina. The company has grown into a specialty ingredients supplier and blending services provider over several generations, with now more than 30 employees, servicing customers in North America. In 2022, the company reported total annual sales amounting to USD 38 million. Financial details of the deal are not being disclosed. The completion of the transaction is contingent upon customary conditions including regulatory approvals and is expected in the fourth quarter of 2023. Source