M&A Activity • Apr 2, 2015
M&A Activity
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IMCD acquires Kushalchand in India
ROTTERDAM, The Netherlands (2 April 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.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of specialty chemicals and food ingredients. Its dedicated experts provide market-focused solutions to suppliers and customers across Europe, Africa, Asia-Pacific and Brazil, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
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Listed at Euronext, Amsterdam (IMCD.AS), IMCD realised revenues of €1,358 million in 2014. In over 30 countries on 5 continents its dedicated team of more than 1,500 technical and commercial experts work in close partnership to tailor best in class solutions for around 28,000 customers and a diverse range of world class suppliers.
To find out more about IMCD, please visit http://www.imcdgroup.com or get in touch with:
Corporate Communications Investor Relations Marina Kaptein Carina Hamaker T: +31 10 2908622, M: +31 6 55166390 T: +31 10 2908674, M: +31 6 55298778 M: [email protected] E: [email protected]
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