Germany's Krahn Chemie GmbH has purchased a majority share in Italy-based speciality chemical company Pietro Carini SpA.
Hamburg-based Krahn Chemie, which in 2013 acquired Dutch chemical company ICH Benelux, continues its growth with the acquisition of Milan's Pietro Carini.
“The acquisition of Pietro Carini is a high strategic fit,” said Axel Sebbesse, managing director of Krahn Chemie. “Pietro Carini provides us with a strong regional footprint and with a solid basis for further growth in the highly attractive Italian market. The long-term relationships to strategic suppliers and the in-depth local industry expertise of the team of Pietro Carini will also strengthen our existing core business segments in Europe.”
Pietro Carini, which employs 27 people, supplies specialty chemicals to the plastics, rubber, adhesives, sealants, inks, and coatings industries.
Enrico Bozzi, managing director and co-shareholder of Pietro Carini said: “Krahn Chemie is a strong partner for Pietro Carini. We both have a very similar market approach by providing added value for our customers through technically driven sales and distribution, close and reliable co-operations and a clear long-term commitment to the market.”
Krahn Chemie reported a turnover of around 150 million euros ($207 million) in 2013 and currently has 140 employees.