March 20 2024, David R Brown
IMCD further expands its food and nutrition footprint in Latin America with the acquisition of Bretano
IMCD N.V., a global leading distribution partner, formulator of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares of Bretano Costa Rica, S.A., Bretano El Salvador, S.A de C.V., Bretano Guatemala, S.A., and Grupo Bretano México, S. de R.L. de C.V. (jointly "Bretano").
IMCD's progress to become the distribution partner of choice throughout Latin America over the past four years has been remarkable
Nicolas Kaufmann
Americas President, IMCD Group
Established in 1961, Bretano is headquartered in Costa Rica, with commercial and logistics operations in Mexico, Guatemala and El Salvador. Bretano is one of the leading speciality ingredients distributors in Latin America for the food industry and supplies chemicals to construction and other industrial markets. Generating a revenue of approximately USD 48 million in 2023, Bretano will add 101 employees to IMCD throughout Latin America. In addition, Bretano adds a food application laboratory, located in Costa Rica, to IMCD's global network of technical centres.
“IMCD's progress to become the distribution partner of choice throughout Latin America over the past four years has been remarkable,” said Nicolas Kaufmann, Americas President, IMCD. “As we embark upon this new journey with Bretano, we are delighted to align our complementary strategies for growth and build on the company's legacy as a speciality distribution leader in the food industry.”
“After a 60-year history of offering comprehensive, innovative solutions to the industry, I am pleased to know that Bretano's future will continue with a company whose values and principles are closely aligned with ours,” said Jorge León Dub, President of the Board of Directors, Bretano. “Bretano is committed to maintaining its reputation for technical and commercial excellence. We look forward to the expanded opportunities that will become available to employees, customers and supplier partners as a result of IMCD's international scale and network.”
The closing of the transaction is subject to customary closing conditions and regulatory approval and is expected to take place in the second quarter of 2024.
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 4,442.6 million in 2023 with nearly 4,736 employees in over 60 countries, working from 116 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 plus customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release
Further Information
Visit: https://www.imcdgroup.com