IMCD reaches agreement on the acquisition of Selectchemie in Brazil
ROTTERDAM, The Netherlands 1 December, 2015 - IMCD N.V., a leading distributor of specialty chemicals and food ingredients, today announces that is has reached agreement on the acquisition of all of the outstanding shares of Selectchemie LTDA in Brazil ("Selectchemie").
Selectchemie, based in Sao Paulo, was founded in 1970 and is owned by Selectchemie AG of Switzerland and two of the current managers. Selectchemie is the leading distributor of pharmaceutical ingredients in Brazil, representing world leading producers from the US, Europe and Asia. The portfolio includes an extensive range of excipients and active pharmaceutical ingredients which complements IMCD's existing position in Brazil.
Dr John Robinson, director IMCD Business Group Pharmaceuticals says: "The acquisition of Selectchemie is an excellent fit with our business as we continue to align with world class suppliers of pharmaceutical ingredients on a multi-regional basis. We recognize Brazil to be a dynamic market for the generic pharmaceutical industry and it is our intention to utilize our formulation expertise to provide solutions to both our customers and suppliers."
Walter Thuring, managing director of Selectchemie says: "We are excited about the potential of combining our knowledge of the growing Brazilian market with IMCD's global reach and strong technical formulation expertise."
In 2014, Selectchemie generated revenues of BRL 68 million with 43 staff. After completion of the acquisition, which is expected before the end of 2015, the company will continue with its present management and staff.