ROTTERDAM, The Netherlands (29 September, 2014) – IMCD N.V., a global leader in the sales, marketing and distribution of speciality chemicals and food ingredients, announces that it has completed the acquisition of Danasia, Inc. in the Philippines.
Danasia, Inc., founded in 1993 and based in Makati City, is a distributor of leading brands of food and industrial ingredients from Europe, the USA and Asia-Pacific and has a strong foothold in the Philippines food industry.
Mr Albert Stevens, IMCD’s VP Asia, comments on the deal: “We are delighted with the acquisition of Danasia. Marking IMCD’s first entry into the rapidly emerging Philippines market, this acquisition will provide for us a valuable platform to further expand and strengthen our presence in this market.“
In 2013 Danasia generated sales of approximately € 7 million and employed 22 people.
Furthermore, as opposed to the statement in the prospectus, published at the time of the IPO, IMCD and Animus International have mutually decided not to pursue the acquisition by IMCD of the assets and business of Animus, located in the Philippines.