IMCD Acquires Kushalchand in India
02 Apr 2015 --- IMCD N.V., a global leader in the sales, marketing and distribution of speciality chemicals and food ingredients, announces that it has completed the acquisition of Kushalchand Sons in India.
Kushalchand, a family owned company based in Mumbai since 1922, is a distributor of food speciality ingredients to the fast growing processed food industry in India and represents world class suppliers. With a goal to provide the food industry with a single stop solution for all their clients’ formulation needs, Kushalchand has been at the forefront of food ingredients distribution in India.
The acquisition of Mumbai-based distributor provides a platform for the further strengthening and expansion of the activities of IMCD in the food market in India.
Mr Amit Hirani, former owner of Kushalchand and the new Business Director of IMCD India, comments on the transaction: “IMCD and Kushalchand share a common strategy through providing the Indian food industry with a wide range of key ingredients from world leading manufacturers. This synergy will enable IMCD to further strengthen their presence on the Indian market.”
Kushalchand generated revenue of approximately EUR 9 million. Its business will be integrated into IMCD India whilst 18 employees have already transferred to IMCD.
