DKSH Performance Materials Strengthens its North American Presence With the Acquisition of Terra Firma 22.09.2022, 07:20 Uhr von EQS News Jetzt kommentieren: 0

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DKSH Management Ltd. / Key word(s): Acquisition
DKSH Performance Materials Strengthens its North American Presence With the Acquisition of Terra Firma

22-Sep-2022 / 07:20 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.


Ad hoc announcement pursuant to Art. 53 LR

DKSH has signed the acquisition of Terra Firma, a leading distributor of specialty chemicals in North America. With this acquisition, DKSH expands its platform of the Business Unit Performance Materials to the USA and Canada. The transaction is an important step in DKSH's strategy to build a global distribution platform for specialty chemicals and ingredients.

Zurich, Switzerland, September 22, 2022 – With the acquisition of Terra Firma, DKSH creates a scalable platform for growing its presence in Performance Materials in North America.

Terra Firma has national coverage in the USA and Canada and is representing premier suppliers in its core segments of CASE (Coatings, Adhesives, Sealants, and Elastomers), plastics and construction, agrochemicals, health and nutrition, as well as  personal care. The addition of a strong player in the North American Industrial specialty chemicals distribution sector is a major contribution to DKSH’s Performance Materials business and is complementary to DKSH’s existing specialty industrial business globally. DKSH’s expertise in the distribution of life sciences ingredients offers a strong base to expand further into food, pharma, and personal care in North America.

Terra Firma currently operates with around 100 highly skilled professionals across the region and has offices in Los Angeles, Dallas, Baltimore, and Toronto. Terra Firma expects net sales of around USD 240 million in 2022. The transaction, which is expected to close towards the end of year, will be valued at USD 360 million enterprise value. DKSH will acquire at least 80% of Terra Firma with the remainder held by the company’s existing management team. The transaction is EPS-accretive and will be financed via debt and cash.

Stefan Butz, DKSH’s CEO, commented: “Expanding our presence in the North American market has been a strategic focus for our Performance Material business. Terra Firma’s teams operate coast to coast and will accelerate our expansion into the North American specialty chemical distribution market, while we will provide their clients access to our global network. The Terra Firma acquisition is a milestone in the transformation of DKSH Performance Materials to becoming a global player.”

Tim Fetters, Terra Firma’s CEO, added: "Terra Firma has earned an excellent market reputation by delivering value and significant growth to its customers and suppliers. By joining DKSH, we will be able to leverage our growth platform further and increase our presence in life sciences."

About DKSH
DKSH’s purpose is to enrich people’s lives. For more than 150 years, we have been delivering growth for companies in Asia and beyond across our Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, we offer sourcing, market insights, marketing and sales, eCommerce, distribution, and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 33,100 specialists, generating net sales of CHF 11.1 billion in 2021. The DKSH Business Unit Performance Materials distributes specialty chemicals and ingredients for food, pharmaceutical, personal care, and various industrial applications. With 52 innovation centers and regulatory support worldwide, we create cutting-edge formulations that comply with local regulations. With around 1,370 specialists, the Business Unit generated net sales of CHF 1.3 billion in 2021. www.dksh.com/pm

For more information please contact:

DKSH Holding Ltd.
Till Leisner
Head, Group Investor & Media Relations, Sustainability
Phone +41 44 386 7315
till.leisner@dksh.com

Demet Biçer
Manager, Group Media Relations
Phone +41 44 386 7217
demet.bicer@dksh.com



End of Inside Information
Language: English
Company: DKSH Management Ltd.
Wiesenstrasse 8
8008 Zurich
Switzerland
Phone: 044 386 72 72
E-mail: media@dksh.com
Internet: www.dksh.com
ISIN: CH0126673539
Valor: 12667353
Listed: SIX Swiss Exchange
EQS News ID: 1447825

 
End of Announcement EQS News Service

1447825  22-Sep-2022 CET/CEST

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