Business of Distributor Matrix Ingredients acquired in Asset Deal
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it acquires the food ingredients business of Matrix Ingredients Pte. Ltd., Maxim Ingredients international Pte. Ltd. and Matrix International Sdn. Bhd. [together “Matrix Ingredients”] (Singapore, Singapore and Kuala Lumpur, Malaysia, respectively) for an undisclosed amount. The business will be integrated into IMCD’s existing organisation in the two countries.
Matrix ingredients, which was established in 2002, provides ingredients, technical services and formulation advice to the Savoury and Processed Meat food industry sub-segment in Singapore and Malaysia. In 2018 the business had revenues of SGD 6.5 (ca. EUR 4.2 mn), IMCD said in the announcement.
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 / 30.08.2019