May 15 2020, David R Brown
IMCD acquires the pharma business of Develing International in China
IMCD N.V., a leading distributor of speciality chemicals and food ingredients, has signed an agreement to acquire the pharmaceutical business in China of Develing International Trade (Shanghai) Co. Ltd. upon fulfilment of transaction-related conditions. Develing International, with its regional head office in Shanghai, is a Dutch sales and distribution company (B2B) of high-quality ingredients for the food, pharmaceutical, chemical, and feed industry in China and Vietnam.
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The acquired business, with annual sales of approximately EUR 10 million, will be integrated into IMCD China's business unit Pharma and will be synergistic with IMCD's existing product range. Other Develing companies, including Develing Trade B.V., Develing International (USA) Inc., Develing International (Vietnam) Co. Ltd, Develing International Trade (Dalian) Co. Ltd and Develing Trade (Guangzhou) Co. Ltd., as well as offices in Beijing, Chengdu, Wuhan, are unaffected by the transaction.
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 2,689.6 million in 2019 with more than 2,990 employees in over 50 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 49,000 customers and a diverse range of world class suppliers
Source(s): IMCD Press Release