IMCD completes the acquisition of South Korean based Whawon Pharm Co. Ltd.
ROTTERDAM, The Netherlands (December 18, 2019) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and food ingredients, today announces that it has successfully completed the acquisition of pharmaceutical ingredient distributor Whawon Pharm Co. Ltd. (“Whawon”).
IMCD acquired 57% of the total share capital from the existing Whawon management, who will continue to lead the company. The remaining 43%, will be maintained by the management, for a period up to 5 years after closing.
Whawon is a leading pharmaceutical distributor in South Korea with a focus on Pharmaceutical Formulation Ingredients. The company was founded in 1998 and has its head office in Seoul. In 2018, the company generated a revenue of KRW 57 billion (about EUR 44 million) with 54 employees.