Nov 04, 2020
17:45 CET - ROTTERDAM, The NetherlandsCorporate
IMCD completes the acquisition of Signet Excipients Private Limited
IMCD N.V. (“IMCD” or the “Company”), a leading global distributor of speciality chemicals and ingredients, announces that, effective as per today, it has successfully completed the acquisition of 70% of Indian speciality chemicals distributor Signet Excipients Private Limited (“Signet”), with the 30% remaining shares to follow by 2024.
The founders of Signet will continue to lead Signet. The agreement on the acquisition of Signet was announced by IMCD in its press release of 15 September 2020.
Founded in 1986, Signet grew from a small distribution company to one of the leading distributors of excipients in India. It focusses on the distribution of pharmaceutical, nutraceutical and bio-pharma excipients across categories such as diluents, fillers, sweeteners, disintegrants, binders, surfactants and others. Based in Mumbai, Signet is active in India, Bangladesh, the Middle East and Africa. With approximately 100 employees, Signet generated revenue of INR 13.2 billion (ca. EUR 152 million) in the last twelve months up to and including June 2020.
The acquisition of Signet significantly strengthens IMCD’s presence in India and increases IMCD’s position in the high-growth APAC region. It is an important step in IMCD’s strategy to become a leading global speciality pharma ingredient distributor and strengthens IMCD’s footprint in the high growth and resilient pharma excipient distribution market.
To read the full press release, please click on the link below: