IMCD to acquire the Business of Chemicals and Solvents (EA) Ltd.
International speciality chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherland), has agreed to acquire the business of Chemicals and Solvents (EA) Ltd. [C&S](Nairobi, Kenya) to expand IMCD’s existing operations in Africa.
Founded by Abdul Farrah in 1989, C&S today is a distributor of ingredients to the Food, Cosmetics, Detergents and Pharmaceutical industries. Besides Kenya, the company also serves neighbouring countries such as Uganda and Tanzania. In 2015 C&S generated revenue of EUR 5 mn. The Company has 26 employees.
The transaction is expected to close during Q3-2016. IMCD said the business will continue with its present management and staff.
Source: IMCD press release
HGE / DCG – 30.06.2016