THE WHAT Life science ingredients distributor Barentz has announced an agreement to acquire a majority stake in the distribution functions of India-based Gangwal Chemicals.
THE DETAILS A high-end distributor and specialty solutions provider based in Mumbai, Gangwal Chemicals is said to have a leading position in pharmaceuticals, focusing on speciality, nutraceuticals and cosmetics ingredients.
The acquisition is said to strengthen Barentz’ footprint in the pharma excipient distribution market and increases its geographic exposure in the Asia-Pacific region.
Gangwal Founder, Anil Jain will continue to lead the company following the acquisition, which is subject to regulatory closing conditions.
THE WHY The buy-out has been cited as an ‘important step’ in Barentz’ strategy to become a leading global specialty pharmaceutical and nutraceutical active ingredient distributor.’
Hidde van der Wal, CEO of Barentz, said, ‘‘We have been keen to enter the Indian market for a long time. In Gangwal, we found the right partner due to the similarities in how we do business. We are extremely impressed by the way the Gangwal team has developed the business and the long-term relationships they have built with different global excipient producers.
“This platform gives us a great leadership team and many opportunities to create new business initiatives to support our global network of suppliers. We are looking forward to accelerating Gangwal’s future strategic growth.”