November 14 2018, David R Brown
IMCD completes the acquisition of Indian specialty chemicals distributor Aroma
IMCD N.V., a leading distributor of speciality chemicals and food ingredients, has reported that it has successfully completed the acquisition of 100% of the outstanding shares of Aroma Chemical Agencies (India) Pvt. Ltd. and Alchemie Agencies Pvt. Ltd which make up the Aroma Group of companies. Aroma has its headquarter in Mumbai, India and offices throughout the country in Kolkata, Chennai, New Delhi, Faridabad and Vadodara.
This helps establish IMCD India as a truly multi market speciality chemical distributorAmit Hirani
Managing Director IMCD India Pvt. Ltd
With an extensive commercial network across India and its longstanding relationships with global suppliers in the coatings, plastics and other specialty chemicals industries, Aroma is an excellent fit with IMCD's existing operations. Aroma was established in 1973 and is an Indian specialty chemicals distributor with a focus on additives, resins and pigments for the coatings, construction, adhesives and plastics industries. Alchemie is a long standing part of the Aroma group and carries out the indenting business in the same industrial segments. The companies together employ approximately 70 employees in India and generated EUR 26 million revenue in the full year 2017/2018 (ending 31 March 2018).
Amit Hirani, Managing Director IMCD India Pvt. Ltd. comments on the acquisitions: “This acquisition perfectly complements our existing strong position in Life Sciences and helps establish IMCD India as a truly multi market speciality chemical distributor with an infrastructure to deliver growth for our suppliers across all regions of India.”
Saurin Shah, Managing Director of Aroma: &ldquoCombining Aroma's longstanding local presence and expertise with IMCD's excellent international network will open a new chapter for both companies' industrial businesses in India.”
The acquisition will be paid from available cash and existing facilities.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its result driven professionals provide market-focused solutions to suppliers and customers across EMEA, Asia-Pacific and Americas, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends. Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of € 1,907 million in 2017 with more than 2,200 employees in over 45 countries on 6 continents. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best in class solutions and provide value through expertise for around 37,000 customers and a diverse range of world class suppliers
Source(s): IMCD Press Release