Materials distributor Barentz acquires specialty chemical supplier Maroon Group
The deal will expand Netherlands-based Barentz's footprint in North America.
In a move that expands its footprint in North America, Netherlands-based distributor of life-science ingredients Barentz International has entered into an agreement to acquire Maroon Group, a supplier of specialty chemicals and life science ingredients across Canada and the U.S.
The financial terms of the deal have not been disclosed.
Maroon was founded in 1977 and is based in Avon, Ohio. The company reportedly generates an annual turnover of approximately US$500 million, has around 300 employees, and a network of more than 40 warehouses.
Maroon CEO Terry Hill and his management team will continue to run the operations.
“Our product portfolios are very complementary,” Barentz CEO Hidde van der Wal said in a statement. “We have no conflicts of interest and we can learn a lot from each other. Maroon Group has significant scale in North America — the biggest economy of the world, where we were small, until today. The combination will immediately make Barentz a leading global distributor with an excellent opportunity to establish new business segments in North America. It is a natural combination that enables us to offer quality and expertise to our combined customer base.”
Founded in 1953, Barentz has operations in more than 60 countries, and employs approximately 1,100 workers.
The deal is expected to close this quarter.