Jun 12, 2018
ROTTERDAM, The NetherlandsCorporate
IMCD to acquire US specialty chemicals distributor E.T. Horn Company
IMCD N.V. ("IMCD" or "Company"), a leading distributor of specialty chemicals and food ingredients, today announces that it signed an agreement to acquire 100% of the outstanding shares of E.T. Horn Company ("HORN"). HORN is an excellent fit with IMCD's US activities and supports the strategy of offering to its suppliers and customers an organisation with national US coverage and dedicated segment expertise. The deal is subject to fulfilment of transaction related conditions and customary regulatory review.
Marcus Jordan, President of IMCD Americas, commented: "HORN is a leading specialty distributor in the US with an excellent reputation. There is a very good fit between HORN and our current US organisation and we are convinced that we can jointly offer exciting opportunities to our staff, suppliers and customers. Our combined businesses are excellently positioned to achieve accelerated growth on a national US basis through our specialist market focused teams".
Bob Ahn and Jeff Martin, Board members of HORN: "HORN and IMCD have similar strategies and cultures and we look forward to working together to expand our business in the US further".
The acquisition will be paid from available cash and existing facilities.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.