NETHERLANDS – IMCD, a leading distributor of speciality chemicals and food ingredients, has acquired the food distribution business of Matrix Ingredients in Singapore and Malaysia, for an undisclosed sum.
Following the transaction, Maxim Ingredients International Pte. Ltd. and Matrix Ingredients Sdn. Bhd. will be integrated into IMCD’s existing organisation.
Established in 2002, Matrix Ingredients provides ingredients, technical services and formulation advice in the savoury and processed meat segment in both Singapore and Malaysia markets.
IMCD said that the services offered by Matrix Ingredients form a valuable addition to its food and ingredients portfolio aiming to strengthen IMCD’s savoury & processed meat segment.
“With Matrix Ingredients’ leadership position in the Singapore and Malaysian market, IMCD establishes a solid position in the fast-growing savoury and processed meat segment,” said Haiko Zuidhoff, Vice President, Asia Pacific.
“Together we are well positioned to deliver accelerated growth in the APAC region to our suppliers,” Haiko added.
IMCD said that the acquisition will be funded by available cash and its existing facilities.
In August, the speciality chemicals and food ingredients teamed up with French bio-based plastic pellet maker Lactips to start a distribution partnership to market Lactips’ biodegradable raw materials.
Lactips produces water soluble and biodegradable thermoplastic pellets derived from a milk protein called casein.
As part of the distribution partnership, IMCD will initially market the pellets to the Nordic regions and France as it counties to expand n market.
IMCD has presence across various markets in the Europe Middle East and Africa (EMEA) Asia-Pacific and America regions, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
The food ingredients supplier has more than 2,800employees in over 45 countries on 6 continent for around 37,000 customers and a diverse range of world class suppliers.
Its product portfolio is divided into several lines including coatings, food and nutrition, detergents, pharma, personal care, lubricants, synthesis, plastics and others.
In 2018, IMCD realised revenues of € 2,379million (US$2.608 billion) while Matrix Ingredients generated revenue of SGD 6.5 million (US$4.67 million) in the same period