IMCD enters Brazil through the acquisition of Makeni Chemicals
ROTTERDAM, The Netherlands (5 September, 2013) – IMCD Group B.V. has acquired a majority interest in Makeni Chemicals, a leading speciality chemical distributor in Brazil. The Medrano founding family will keep a minority interest in the business, with Mr Reinaldo Medrano continuing as Managing Director of the company. Makeni represents world class suppliers and covers a wide range of market sectors including coatings, construction, adhesives and plastics, personal care and nutrition. Makeni has a laboratory for quality control and two application labs, one for coatings and one for the nutrition segment.
Founded in 1981 and headquartered in São Paulo, Makeni has a sales revenue of BRL 200 M and employs more than 100 staff. The company has nine sales representative offices throughout Brazil and its main warehouse facility is located in Diadema with both bulk and liquid storage capacity. Mr Rubens Medrano, the company founder, comments on the acquisition: “We are very excited to have the opportunity to join forces with such a reputable international player like IMCD as it will enable us to expand in Brazil and further strengthen our services to our suppliers and customers.”
Commenting on the new agreement, Mr Piet van der Slikke, CEO of IMCD Group, says: “This is an important step in the realisation of our strategy to develop in the largest country of Latin America and one of the leading economies in the world. We are proud to be associated with such a strong partner in Brazil and we look forward to work together with the staff to further develop the business.’’
As member of the Board, Rubens Medrano will continue to be involved in the development of the business in Brazil and in the integration of Makeni into the IMCD Group.