German chemical and ingredient distributor, Brenntag SE, recently announced that they have acquired US food ingredient distributor JM Swank from Platinum Equity. Platinum Equity purchased the Company in 2016 as a carve out from ConAgra Foods. JM Swank reported approximately $500 million in sales during 2020and offers a range of products such as spices, sweeteners, starches, dairy ingredients and more. The enterprise value of the purchase was $304 million. Christian Kohlpaintner, CEO of Brenntag SE, was quoted saying, “This strategic acquisition will double Brenntag’s size in the Nutrition business in the region and thus creates the leading food ingredients and food process chemicals distributor in North America with approximately one billion US dollars in revenue.”
Quazar Capital was not involved in this transaction.
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