12.03.21
Barentz International will acquire a majority stake in the distribution activities of Gangwal Chemicals Private Limited, Mumbai, India. The move is said to be an important step in Barentz’ strategy to become a leading global specialty pharmaceutical and nutraceutical active ingredient distributor.
"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," said Barentz CEO Hidde van der Wal. "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."
According to Barentz, Gangwal provides an excellent platform in India and Asia-Pacific allowing for further growth opportunities, organically and through acquisition. Anil Jain, the founder of Gangwal, will continue to lead the company post completion of the acquisition by Barentz.
"Over the last couple of years we have seen a rapid consolidation of distributors in India," said Jain. "In Barentz we found the ideal life science candidate to partner with. DNA- and business wise we think and act alike. Together, we can find multiple synergies to strengthen our customer relations with many new suppliers and products coming out of the Barentz portfolio of life science ingredients. A so called perfect natural fit creating tremendous new opportunities for our employees.”
"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," said Barentz CEO Hidde van der Wal. "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."
According to Barentz, Gangwal provides an excellent platform in India and Asia-Pacific allowing for further growth opportunities, organically and through acquisition. Anil Jain, the founder of Gangwal, will continue to lead the company post completion of the acquisition by Barentz.
"Over the last couple of years we have seen a rapid consolidation of distributors in India," said Jain. "In Barentz we found the ideal life science candidate to partner with. DNA- and business wise we think and act alike. Together, we can find multiple synergies to strengthen our customer relations with many new suppliers and products coming out of the Barentz portfolio of life science ingredients. A so called perfect natural fit creating tremendous new opportunities for our employees.”