KRAHN CHEMIE to Strengthen its Position in Italy with Acquisition of Pietro Carini

KRAHN CHEMIE GmbH has acquired a majority share in Pietro Carini S.p.A., a speciality chemical distributor headquartered in Milan.

Founded in 1868, Pietro Carini is a well-established player in the Italian market in which it represents some first-class chemical producers. Pietro Carini has 27 employees and supplies speciality chemicals to the plastics, rubber, adhesives, sealants, inks, and coatings industries.

With the acquisition of Pietro Carini only one year after the takeover of ICH Benelux KRAHN CHEMIE consistently follows its regional growth strategy within Europe started in 2009. Italy is the third largest chemical distribution market in Europe and still very fragmented.

"The acquisition of Pietro Carini is a high strategic fit," Axel Sebbesse, Managing Director of KRAHN CHEMIE, comments. "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."

Enrico Bozzi, Managing Director and co-shareholder of Pietro Carini, states, "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. Being part of the KRAHN CHEMIE Group will ensure stability and sustainable growth for Pietro Carini in Italy ? to the benefit of our customers and supplying partners."

About KRAHN CHEMIE

KRAHN CHEMIE belongs to the Hamburg based OTTO KRAHN group and is proud to look back on a 100-year history. The company specializes in the sales, distribution, and marketing of chemical raw materials and speciality chemicals. KRAHN CHEMIE represents many well-known globally operating producers of raw materials in Europe. The company offers its about 5,000 customers an extensive and high quality product portfolio, technical service, inhouse laboratory capabilities as well as sophisticated logistics solutions. Parts of the KRAHN CHEMIE Group are the subsidiaries ICH Benelux in the Netherlands, KRAHN CHEMIE Polska and ICH Poland, both located in Poland. The KRAHN CHEMIE Group achieves a turnover of about 150 million euros in 2013 and has 140 employees. It supplies products to the following industries: paint and coatings, construction chemicals, adhesives and sealants, technical ceramics, plastics, rubber and lubricants.

About Pietro Carini