IMCD reaches agreement on the acquisition of Israeli based Zifroni Chemical Suppliers Ltd.
ROTTERDAM, The Netherlands (17 January 2020) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and food ingredients, today announces that it has successfully completed the acquisition of the Israeli distributor Zifroni Chemical Suppliers Limited ("Zifroni").
Zifroni, based in Rishon Le-Zion, was founded in 1950 and is a leading distributor of pharmaceutical, personal care and other specialty chemical ingredients in Israel. The company has 9 employees and generated a revenue of €10.2 million in 2019 through their representation of world leading producers from the US, Europe and Asia.
John Robinson, IMCD Business Group Director Pharmaceuticals, comments: "The acquisition of Zifroni is another important step in the globalisation of our Pharmaceutical business. Zifroni’s strong position within the innovative Israeli market and extensive portfolio in Pharmaceuticals and Personal Care, provides the perfect fit with IMCD.”
Rafi and Moshe Zifroni, Managing Directors of Zifroni say: “We are delighted to become part of the IMCD family and excited about the potential of combining our knowledge of the growing Israeli market with IMCD's global reach and strong technical formulation expertise.”
The company will continue with its present management and staff.