IMCD Boosts Life Sciences with Megasetia Buy
Dutch multinational specialty chemicals and ingredients distributor IMCD has agreed to buy Indonesia’s Megasetia Agung Kimia, boosting its presence in the country. Financial terms were not revealed, but the transaction will take place in two tranches.
In the first step, which is expected to complete in December, IMCD is buying a 70% share in the company and will take the remaining 30% in 2025. Megasetia’s management will continue to lead the company post completion of the first tranche.
Headquartered in Jakarta, Megasetia regards itself as Indonesia’s leading distributor of specialty ingredients for the pharmaceuticals industry, also covering the personal care, home care, animal health and industrial markets. The company with revenues of around €60 million in 2020 employs some 160 people across its facilities, which include three laboratories, six offices and six warehouses.
“Indonesia is Southeast Asia’s largest economy and this acquisition provides excellent growth opportunities to strengthen IMCD’s positioning in the life science segments. In addition, it enables us to enhance our offering to local customers and partners,” said Haiko Zuidhoff, vice president of IMCD Asia-Pacific.
IMCD has made several acquisitions this year, including Chinese firms Aquatech and Shanghai Yuanhe in September and June, respectively. The company also added Maquimex in July and Andes Chemical and Siliconas y Quimicos in May, which expanded its presence in Mexico, Latin America and the Caribbean.
Author: Elaine Burridge, Freelance Journalist
