January 10 2024, David R Brown
IMCD enhances its presence in the personal care market in India with the acquisition of Valuetree
IMCD N.V., a global leading distribution partner, and formulator of speciality chemicals and ingredients, has announced that it is to acquire a 70% majority-stake in Valuetree Ingredients Private Limited (“Valuetree”) to expand its beauty and personal care footprint in India.
As the beauty and personal care market in India continues to experience double-digit growth, acquiring Valuetree perfectly fits in our global strategyNarendra Varde
Managing Director, IMCD India & Bangladesh
Founded in 2005, Valuetree, is a prominent ingredient supplier to the beauty and personal care market. It provides an extensive portfolio of specialty ingredients and through an in-house application laboratory, offers formulation and technical support to its customers. Valuetree employs a team of 44 employees and generated a revenue of approximately INR 4.4 billion (ca. EUR 48 million) in the financial year that ended on March 31, 2023.
“As the beauty and personal care market in India continues to experience double-digit growth, acquiring Valuetree perfectly fits in our global strategy, it significantly enhances our capabilities and enriches our product portfolio. It further enhances our position as a leading solution provider in India,” said Narendra Varde, Managing Director, IMCD India & Bangladesh.
“In a market dominated by large players, and now witnessing the emergence of direct to consumer (D2C) brands, our focus has been on customer centricity and providing innovative solutions. We are delighted that IMCD has partnered with us in Valuetree's next phase of growth,” affirmed, Shailesh Karwa & Sharad Dalmia, co-founders of Valuetree, in a joint statement.
The transaction will take place in two tranches, with IMCD now acquiring 70% of the share capital from the founders and the remaining 30% to be acquired in 2025. The founders of Valuetree will continue to lead the company post-completion of this first tranche.
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