IMCD completes acquisition of remaining 20% of The M.F. Cachat Company, LLC
ROTTERDAM, The Netherlands (1 March, 2017) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and food ingredients, today announces that it has completed the acquisition of the remaining 20% interest in The M.F. Cachat Company, LLC (renamed to IMCD US, LLC per April 2016).
At the end of June 2015 IMCD acquired 80% of M.F. Cachat, including 100% of MJS Sales, Inc. The completion of the acquisition of the remaining 20% interest was executed on the basis of the share purchase agreement of June 2015. As IMCD obtained full control over IMCD US as per the end of June 2015, this purchase price obligation was included in IMCD’s reported net debt position and results of IMCD US are consolidated in full into the IMCD figures since the acquisition date. As a consequence this completion as such will not have an impact on reported leverage or earnings levels of IMCD.