IMCD to Buy Peak’s Pharma Business
Dutch specialty chemicals and ingredients distributor IMCD has entered into an agreement to buy the pharmaceutical business of compatriot firm Peak International Products for an undisclosed sum.
Based in Leuvenheim, the Netherlands, Peak distributes APIs for customers in Benelux, Germany, Israel and Vietnam, and generated revenues of about €5.8 million in 2019.
Lodewijk Mellema, managing director IMCD Benelux, commented: ‘With this acquisition IMCD expands its active pharmaceutical ingredients business primarily in Benelux and Vietnam and strengthens our company’s formulation and marketing synergies between active pharmaceutical ingredients and excipients in those regions.”
Peak International’s CEO Erik van den Sigtenhorst added that its existing and future partners will benefit from a significantly increased network within the pharmaceutical industry.
The business to be acquired will be integrated into IMCD Business Group Pharmaceuticals. An expected closing date for the transaction was not revealed.
Earlier this month, IMCD announced that it had successfully completed the acquisition of 70% of Indian specialty chemicals distributor Signet Excipients, with the remaining 30% to follow by 2024.
Signet’s business is focused on the distribution of pharmaceutical, nutraceutical and bio-pharma excipients across categories such as diluents, fillers, sweeteners, disintegrants, binders, surfactants and others. Based in Mumbai, Signet is active in India, Bangladesh, the Middle East and Africa.
Author: Elaine Burridge, Freelance Journalist
