News Article 2023

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May 19 2023, David R Brown

IMCD Malaysia acquires Euro Chemo-Pharma to accelerate growth in life science markets

IMCD N.V., a leading global distributor, formulator, and solutions provider of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares of the speciality distribution company, Euro Chemo-Pharma Sdn Bhd ("Euro Chemo-Pharma") and its wholly owned subsidiary, Biofresh Green Sdn Bhd ("Biofresh").

Euro Chemo-Pharma's strategic positioning is fully aligned with IMCD, providing us the complementary portfolio to accelerate growth in the Malaysian market

Andreas Igerl
President at IMCD APAC

Euro Chemo-Pharma was founded in Malaysia in 1975 and offers a wide range of products, mainly for food, pharmaceutical and personal care applications. Headquartered in Penang, with offices and warehouses also in Kuala Lumpur and Johor, the company has full coverage of the Malaysian market and represents a number of leading global suppliers providing its customers with an extensive portfolio backed by in-depth formulation expertise. With revenues of MYR 270 million (ca. EUR 55 million) in the financial year that ended on June 30, 2022, Euro Chemo-Pharma adds approximately 124 employees to the IMCD Malaysia team and an application laboratory in Penang. Euro Chemo-Pharma's subsidiary, Biofresh, also adds blending, mixing, and compounding of food and flavour ingredients and holds Halal certification.

“Euro Chemo-Pharma's strategic positioning is fully aligned with IMCD, providing us the complementary portfolio to accelerate growth in the Malaysian market,” remarked Andreas Igerl, President at IMCD APAC. “In addition, we aim to leverage the suppliers' synergies we gain from them to develop further our life science business in the Asia Pacific markets” concluded Igerl.

“We have managed to grow the company to be the largest and most efficient speciality ingredients distributor in Malaysia,” commented Jeryl Tan, Executive Director at Euro Chemo-Pharma. “With the mindset that if you don’t step forward, you are always in the same place, we believe that IMCD would be our best partner in the journey to drive growth and provide an exciting new home for our people,” concluded Tan.

The closing of the transaction is subject to customary closing conditions and is expected to take place in the last quarter of 2023.

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 4,601 million in 2022 with nearly 4,323 employees in over 50 countries, working from 109 offices spanning 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 60,000 customers and a diverse range of world class suppliers.

Source(s): IMCD Press Release

Further Information

Visit: https://www.imcdgroup.com