IMCD to acquire the business of Chemicals and Solvents (EA) Ltd in Kenya
June 30 2016, David R BrownTweet
IMCD N.V., a global leader in the sales, marketing and distribution of speciality chemicals and food ingredients, has agreed to acquire the business of Chemicals and Solvents (EA) Ltd. (C&S) based in Nairobi, Kenya to expand IMCD's existing operations in Africa.
A local position in Kenya will offer us the opportunity to further grow in the African marketOtto Brinkmann
Managing Director IMCD South Africa
C&S was founded by Abdul Farrah in 1989 and is a distributor of ingredients to the food, cosmetics, detergents and pharmaceutical industries. Apart from Kenya the company also serves regional markets, including Uganda and Tanzania. In 2015 C&S generated revenue of EUR 5 million with 26 staff. After completion of the transaction, expected in Q3 2016, the business will continue with its present management and staff.
Abdul Farrah, founder of C&S, commented: “IMCD's culture and strategy is an excellent fit with C&S and we are in no doubt that this agreement will create new opportunities for future development and will enhance our service and technical support to our partners.”
Otto Brinkmann, Managing Director IMCD South Africa, added: “We are very pleased to complete this acquisition. A local position in Kenya will offer us the opportunity to further grow in the African market and expand our partnerships and services beyond Southern Africa.”
About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of specialty chemicals and food ingredients in Europe, Africa, Asia-Pacific and Americas. Listed at Euronext, Amsterdam (IMCD.AS), IMCD realised revenues of €1,530 million in 2015. In over 40 countries on 6 continents its dedicated team of more than 1,700 technical and commercial experts work in close partnership to tailor best in class solutions for around 32,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release
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