August 30 2019, David R Brown
IMCD acquires the business of food ingredient distributor Matrix Ingredients in Singapore and Malaysia
IMCD N.V., a leading distributor of speciality chemicals and food ingredients, has announced that it has acquired the food distribution business of Matrix Ingredients Pte. Ltd., Maxim Ingredients International Pte. Ltd. and Matrix Ingredients Sdn. Bhd. (together known as “Matrix Ingredients”), in Singapore and Malaysia, which is integrated into IMCD's existing organisation.
Together we are well positioned to deliver accelerated growth in the APAC region to our suppliersHaiko Zuidhoff
Vice President, Asia Pacific of IMCD
Established in 2002, Matrix Ingredients provides ingredients, technical services and formulation advice in the savoury and processed meat segment in both Singapore and Malaysia markets. In 2018, Matrix Ingredients generated revenue of SGD 6.5 million.
The services offered by Matrix Ingredients form a valuable addition to IMCD's food and ingredients portfolio aiming to strengthen IMCD's savoury & processed meat segment.
Haiko Zuidhoff, Vice President, Asia Pacific, comments: “With Matrix Ingredients' leadership position in the Singapore and Malaysian market, IMCD establishes a solid position in the fast-growing savoury and processed meat segment. Together we are well positioned to deliver accelerated growth in the APAC region to our suppliers.”
The acquisition is 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 EUR 2,379 million in 2018 with more than 2,800 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