Dutch Distribution Group enhances Pharma Industry Coverage in China
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has signed an agreement to acquire the Pharmaceutical Business in China of Develing International Trade (Shanghai) Co. Ltd. (“Develing”) (Shanghai, China) for an undisclosed sum.
Develing International, with head office in Shanghai, is a Dutch sales and distribution company (B2B) of high-quality ingredients for the Food, Pharmaceutical, Chemical, and Feed industry in China and Vietnam. Its holding office is located in Bunschoten-Spakenburg, The Netherlands. The group has a number of subsidiaries in China, Vietnam and the United States. With a staff of more than 90 employees it realises sales in excess of EUR 120 mn per annum.
The acquired business, representing sales of approx. EUR 10 mn annually, will be integrated into IMCD China’s business unit Pharma. There will be synergies with IMCD’s existing product range, the company said in the announcement.
No financial details were disclosed on this transaction, which is subject to a number of closing conditions being fulfilled.
Source: IMCD press release, Develing website, DistriConsult analysis
HGE – DCG / 15.05.2020