May 19 2021, David R Brown
IMCD expands in Central America, Peru, and the Caribbean with the acquisition of Andes Chemical Corp
IMCD N.V., a leading global distributor of speciality chemicals and ingredients, have announced they have acquired Miami headquartered, Andes Chemical Corp. The acquisition marks IMCD's debut in Central America and Peru, as well as expanding their presence in Latin America and throughout the Caribbean region.
Andes Chemical's focus on speciality chemicals and strength in a number of IMCD's core markets was an excellent fit and perfectly complements the presence we have in the regionMarcus Jordan
President of IMCD Americas
“Andes Chemical further strengthens IMCD's presence in the Americas region and opens exciting opportunities for development in countries new to our business,” said Marcus Jordan, Americas President, IMCD. “Andes Chemical's focus on speciality chemicals and strength in a number of IMCD's core markets was an excellent fit and perfectly complements the presence we have in the region. We are delighted to welcome the Andes Chemical team to further enhance IMCD's Americas footprint and offering.”
Andes Chemical has been a distribution partner to leading speciality chemical manufacturers since 1986, and in 2020, generated a revenue of USD 46 million. The company is active in Caribbean and Central American countries, Colombia and Peru and serves the coatings, adhesives, sealants, and elastomers (CASE), construction, cosmetics, personal care, plastics, pharmaceuticals, and HI&I industries.
“IMCD has displayed impressive growth over the past 25 years, so joining the company to further progress its storyline together is an exciting opportunity for us and our partners,” said Fernando J. Espinosa, Jr., President, Andes Chemical. “We are ready to accelerate the growth potential with IMCD in the region and are confident that the enhanced commercial capabilities and global network of formulatory specialists will add great value to both our supplier partners and customers.”
The acquisition of Andes Chemical adds 43 employees to IMCD's Americas team, plus a CASE innovation laboratory located in Miami which provides product and formulatory support. Its Miami headquarters are also complemented by offices and distribution centers in Dominican Republic, Costa Rica and Peru.
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 2,774.9 million in 2020 with nearly 3,300 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 50,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release