Strengthened Position in Coatings, Construction, Adhesives and Plastic Additives in Indian Market
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has successfully completed the acquisition of 100% of the outstanding shares of Aroma Chemical Agencies (India) Pvt. Ltd. and Alchemie Agencies Pvt. Ltd. [together “Aroma”] (Mumbai, India). Apart from its headquarter in Mumbai, Aroma has offices throughout the country in Kolkata, Chennai, New Delhi, Faridabad and Vadodara, forming an “extensive commercial network across India” that is serving customers in Coatings, Plastics and other Specialty Chemicals industries, IMCD said.
Established in 1973, Aroma markets mostly additives, resins and pigments for the Coatings, Construction, Adhesives and Plastics industries. Alchemie is part of the Aroma group and carries out the indenting business with customers in the same industry segments. The companies together employ approx. 70 employees in India and generated revenues of EUR 26 mn in the FY 2017/18 (ending 31. March 2018).
IMCD is paying the consideration from available cash and existing facilities. No financial details were disclosed on the transaction
Source: IMCD press release
HGE – DCG / 14.11.2018