Further Momentum for IMCD’s Growth Plans in Mexico
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) has announced the acquisition of Millikan S.A. de C.V. [“Millikan”] and Banner Química S.A. de C.V. [“Banner Química”] (Mexico City, Mexico), two distributors of specialty chemicals. This follows the establishment of IMCD Mexico in April 2020, a company that serves the Pharmaceuticals, Food, Nutrition and Personal Care industries.
Millikan was established in 1998 and offers technical support and commercial expertise to customers in the Food, Nutrition, Pharmaceuticals and Industrial markets. Banner Química, set up in 2009, has a history in providing formulations and solutions for Personal Care and Home Care.
The two companies collectively generated revenues of USD 15 mn (ca. EUR 13.1 mn) in 2019 and will add 60 employees to the IMCD Mexico team, the announcement said. IMCD’s technical capabilities will also be enhanced through the addition of Food and Personal Care laboratories. No financial details were disclosed on these two transactions.
Source: IMCD press release
HGE – DCG / 07.12.2020