ESSEN, Germany—Brenntag S.E. has made its foray into the Israeli chemicals market with the acquisition of specialty chemicals distributor YS Ashkenazi Agencies Ltd., along with its subsidiary, Biochem Trading.
Based in Netzer Sereni, south of Tel Aviv, YS Ashkenazi has an "extensive portfolio," including more than 500 specialty products, said Brenntag in a statement March 3.
Among other products, the company sources and supplies ingredients needed by the manufacturers of rubber products, including rubber grade stearic acid, titanium dioxide, talc, kaolin and carbon black and silicones, Brenntag said.
"The acquisition of YS Ashkenazi Agencies is an excellent opportunity for us to gain a foothold in the highly developed and innovative market in Israel," Brenntag Specialties COO Henri Nejade said.
The acquisition, he added, will particularly help Brenntag grow its specialty products and services in the food and nutrition and personal care markets in the region.
Described as "one of the largest specialty chemical distributors in Israel," YS Ashkenazi is located in close proximity to Ashod Harbor and Tel Aviv airport.
The company reported sales of $43 million (€39 million) last year.