YEADON, England—Chemical distributor Brenntag has signed an agreement to acquire Turkey's Parkoteks Kimya, the company said in a Sept. 15 release.
According to the release, the Istanbul-based distribution company offers a wide range of specialty chemicals products with particular focus on the personal care industry.
Brenntag described the acquisition as a significant addition to its strategy in Turkey.
Parkoteks generated total sales of about $16 million for the 2014 financial year. The closing of the transaction will take place in the coming weeks, Brenntag said.
Brenntag Turkey could offer customized solutions and specialty chemicals. The firm said that Parkoteks already had a technically qualified and skilled sales team in place.