IMCD Buys Malaysia’s Euro Chemo-Pharma
IMCD has agreed to buy Malaysian specialty distribution company Euro Chemo-Pharma and its wholly owned subsidiary Biofresh Green, accelerating its growth in life science markets. Financial terms of the transaction, which is expected to close in the fourth quarter of 2023, were not disclosed.
"Euro Chemo-Pharma's strategic positioning is fully aligned with IMCD, providing us the complementary portfolio to accelerate growth in the Malaysian market," said Andreas Igerl, president at IMCD APAC. "In addition, we aim to leverage the suppliers’ synergies we gain from them to develop further our life science business in the Asia-Pacific markets.”
Headquartered in Penang, Euro Chemo-Pharma supplies products primarily for food, pharmaceutical and personal care applications and generated revenue of about €55 million in the fiscal year ending Jun. 30, 2022. The company employs about 124 staff and has offices and warehouses in Kuala Lumpur and Johor, as well as an application laboratory in Penang.
Biofresh offers services that include blending, mixing and compounding of food and flavor ingredients.
The acquisition is the third that IMCD has announced this month, after agreeing to take over Allianz Group International in Colombia and KOI Products Solutions and Engineering in Israel.
Author: Elaine Burridge, Freelance Journalist
