IMCD Expands into Southern Europe and Asia
IMCD will continue to reinforce its presence in Europe as the leading distributor for specialty chemical and food ingredients”, says Piet van der Slikke, CEO of IMCD Group.
Aug 31 2010 --- IMCD Group B.V. has reached a binding agreement with Warwick International Group Ltd., based in Mostyn, North Wales for the sale of its specialty chemical distribution companies. The transaction, for 100% of the share capital of all the distribution companies, is due to be completed on August 31, 2010. The terms of the sale are not being disclosed.
The businesses included in the transaction are Warwick’s distribution operations in France, Italy, Spain and Portugal, as well as Warwick Technology (Slovenia) and GME Chemicals (Malaysia). The combined businesses have sales revenues of approximately EUR 80 million and employ 125 staff.
IMCD already has major distribution businesses in France, Iberia and Italy and this acquisition will significantly strengthen its technical expertise and product offering in these regions. “IMCD will continue to reinforce its presence in Europe as the leading distributor for specialty chemical and food ingredients”, says Piet van der Slikke, CEO of IMCD Group. “We expect that this acquisition will result in significant synergies and will open up new growth possibilities.”
At the same time, the acquisition of the Malaysian operation underlines IMCD’s determination to expand its presence in the Asia Pacific region. “With a dominant position in Australia and with presence in China and India, the addition of this leading Malaysian distributor to the Group is an important step for us to expand in South East Asia”, continues Van der Slikke.
This deal complements IMCD’s existing portfolio for Coatings, Polymers, Consumer & Personal Care, Minerals and Industrial applications. IMCD has doubled in its size over the last decade.
