April 4 2015, David R Brown
IMCD acquires speciality ingredients distributor, Kushalchand in India
IMCD N.V., a leader in the sales, marketing and distribution of speciality chemicals and food ingredients, has announced that it has completed the acquisition of Kushalchand Sons in India. Kushalchand, a family owned company based in Mumbai since 1922, is a distributor of food speciality ingredients to the fast growing processed food industry in India and represents a number of well-know suppliers.
IMCD and Kushalchand share a common strategy through providing the Indian food industry with a wide range of key ingredients from world leading manufacturers
Mr Amit Hirani
former owner of Kushalchand and Business Director of IMCD India
Mr Amit Hirani, former owner of Kushalchand and the new Business Director of IMCD India, comments on the transaction: “IMCD and Kushalchand share a common strategy through providing the Indian food industry with a wide range of key ingredients from world leading manufacturers. This synergy will enable IMCD to further strengthen their presence on the Indian market.”
The acquisition of Mumbai-based distributor provides a platform for the further strengthening and expansion of the activities of IMCD in the food market in India. Kushalchand generated revenue of approximately EUR 9 million. Its business will be integrated into IMCD India whilst 18 employees have already transferred to IMCD. The deal builds on other recent acquistions IMCD has completed in India including pharmaceutical ingredients distributor, Induchem (2013) and Mata Polymers (2011).
About IMCD
Listed at Euronext Amsterdam (IMCD.AS), IMCD realised revenues of EUR 1,358 million in 2014 and is a market-leader in the sales, marketing and distribution of specialty chemicals and food
ingredients across Europe, Africa, Asia-Pacific and in Brazil. The Group employs a dedicated team of more than 1,500 technical and commercial experts work in close partnership with around 28,000 customers and suppliers in more than 30 countries and 5 continents worldwide.
Source(s): IMCD Press Release
Further Information
Visit: http://www.imcdgroup.com