DKSH’s Performance Materials unit has paid undisclosed sum for Swiss ingredients and chemicals firm Staerkle & Nagler, as the Asian player moves to boost its European presence.
Staerkle & Nagler has revenue of about €16.5m and trades in a wide variety of chemicals, food additives, processing aids and nutrients.
It services the food and beverage, personal care, cosmetics, and pharmaceuticals sectors in 26 countries, but is particularly strong in Austria, DKSH spokesperson, Joerg Neef, told us.
“It’s a good expansion for us in markets where we are not very active like Austria,” Neef added.
“We are known for our Asian, south east Asian presence where we do 90% of our business, so this is an interesting expansion for us even if the EU market is flat at the moment.”
Hans Strickler, owner and managing director of Staerkle & Nagler, said: “For us, the partnership with DKSH is an ideal succession solution. With this transaction, we a creating a solid foundation for the speedy forward development of our almost 70-year-old company.”
Dr Joerg Wolle, president and CEO of DKSH Holding, added: “We are well positioned to exploit our market leadership as the industry consolidator in our still highly fragmented industry. Both in Europe and Asia, there are promising opportunities to strategically complement our strong organic growth through bolt-on acquisitions.”