NETHERLANDS – IMCD, a leading distributor of specialty chemicals and food ingredients, has acquired Colombia-based ingredient distributor, Unired Químicas, to support the company’s expansion in Latin America.
Unired distributes specialty chemicals and ingredients to the food as well as pharmaceutical and personal care markets. The company will be fully integrated with IMCD’s organisation in 2020.
IMCD said that Unired is an excellent fit with the company given its specialty focus, asset light business model and long-term relationships with leading suppliers.
According to IMCD, the acquisition also supports its strategy to become the leading global specialty chemicals distributor, providing expertise and knowledge-based formulation solutions to its customers.
Marcus Jordan, President of IMCD Americas, commented: “Following IMCD Americas’ acquisitions in the US, Canada and Brazil, this is an important next step for IMCD to enter the Colombian market and to expand our LATAM presence.
Oscar Clavijo, President of Unired, added: “Unired is a reputable pharmaceutical, food and personal care distributor and we very much look forward to working together to further develop our offering to both suppliers and customers in the region.
“We are delighted to become part of IMCD as the acquisition immediately propels Unired into the future with a larger and more specialized team and added technical know-how.”
In 2018, Unired generated a revenue of US$8 million and has approximately 15employees.
Unired will join the growing number of businesses under IMCD’s roof including the recently acquired food ingredients business of Matrix in Singapore and Malaysia and India’s Monachem Additives.
The first nine months resulted in an EBITA growth of 12% and a cash earnings per share growth of 15% versus the same period of last year. Gross profit growth to EUR 457.3 million while operating EBITA increase to EUR 175.7 million.
The company said that both the Americas and Asia-Pacific performed satisfactorily whereas Europe Middle East and Africa (EMEA) region’s reported a 2% decline in growth caused by lower demand.
