South Africa's Imperial Holdings has agreed to pay €270m to acquire Germany's Lehnkering Holdings, subject to approval by the European Commission. "With this strategic acquisition we intend to further enhance our market presence in Europe," says Imperial's executive director Gerhard Riemann. "In particular, Lehnkering's prominent position in warehousing and distribution for the chemicals industry represents a logical complement to our spectrum of services. Holding true to our corporate philosophy, we want the company's brand name 'Lehnkering' to be continued under the Imperial umbrella just as soon as the European Commission has signalled its consent," he continues.
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