November 17 2021, David R Brown
IMCD Indonesia strengthens its life science portfolio with the acquisition of PT Megasetia Agung Kimia
IMCD N.V., a leading distributor of speciality chemicals and ingredients, has announced that IMCD Indonesia has signed an agreement to acquire 100% of the shares of PT Megasetia Agung Kimia ("Megasetia") in Indonesia. Megasetia has an excellent fit with IMCD's life science business and provides a significant platform for further growth in the life science segments in Indonesia.
Indonesia is South East Asia's largest economy and this acquisition provides excellent growth opportunities to strengthen IMCD's positioning in the life science segmentsHaiko Zuidhoff
Vice President of IMCD APAC
The transaction will take place in two tranches, with IMCD acquiring 70% of Megasetia's share capital with immediate affect and the remaining 30% in 2025. The management of Megasetia will continue to lead the company post completion of the first tranche.
Founded in 1995, Megasetia is the leading distributor for speciality ingredients for the pharmaceuticals industry in Indonesia. In addition, it covers the personal care, home care, animal health and industrial markets, offering end-to-end solutions to its customers and partners with 3 laboratories, 6 offices, and 6 warehouses across Indonesia. Megasetia generated a revenue of approximately IDR 974 billion (ca. EUR 60 million) in 2020 with around 160 employees. It currently serves more than 1,000 customers and represents over 50 of the world's leading ingredients producers.
“Indonesia is South East Asia's largest economy and this acquisition provides excellent growth opportunities to strengthen IMCD's positioning in the life science segments. In addition, it enables us to enhance our offering to local customers and partners,” said Haiko Zuidhoff, Vice President of IMCD APAC.
“We are delighted to be part of IMCD's global network. We are confident that our life science portfolio will complement their offering to customers and suppliers,” commented Suryani Hartoyo, President Director of Megasetia. “Our culture of growth through market knowledge, technical innovation, and high level of services, is very well aligned with IMCD’s strategy,” concluded Hartoyo.
The closing of the transaction is expected to take place in December 2021.
About IMCD N.V.
IMCD is a market leader in the sales, marketing, and distribution of speciality chemicals and ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 2,775 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