Second Acquisition within one Week helps to further enhance IMCD’s Coverage of Pharma Sector
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has signed an agreement to acquire 57% of the outstanding shares of pharmaceutical ingredients distributor Whawon Pharm Co. Ltd. [“Whawon”] (Seoul, South Korea). According to IMCD’s announcement, Whawon is a leading distributor in South Korea with a focus on Pharmaceutical Formulation Ingredients. Founded in 1998, the company generated revenues of KRW 57 bn (approx. EUR 44 mn) with 54 employees in 2018.
Initially, IMCD will acquire 57% of the total share capital from the existing Whawon management, who will continue to lead the company. The remaining 43% will be held by management for a period up to five years after closing.
No financial details were disclosed on the transaction, which is subject to fulfillment of certain closing conditions.
Source: IMCD press release
HGE – DCG / 05.11.2019