IMCD Malaysia acquires Euro Chemo-Pharma to accelerate growth in life science markets
ROTTERDAM, The Netherlands (19 May 2023) – IMCD N.V. ("IMCD" or "Company"), a leading distributor, formulator, and solutions provider of speciality chemicals and ingredients, today announces that IMCD has signed an agreement to acquire 100% of the shares of the speciality distribution company, Euro Chemo-Pharma Sdn Bhd ("Euro Chemo-Pharma") and its wholly owned subsidiary, Biofresh Green Sdn Bhd ("Biofresh").
Euro Chemo-Pharma was founded in Malaysia in 1975, offering a wide range of products, mainly food, pharmaceutical and personal care applications. Headquartered in Penang, with offices and warehouses also in Kuala Lumpur and Johor, it ensures the full coverage of the Malaysian market. The company also represents leading global suppliers providing its customers with an extensive portfolio backed by in-depth formulation expertise. With a generated revenue of approximately MYR 270 million (ca. EUR 55 million) in the financial year that ended on June 30, 2022, Euro Chemo-Pharma adds approximately 124 employees to the IMCD Malaysia team and an application laboratory in Penang.
Additionally, Euro Chemo-Pharma’s subsidiary, Biofresh, includes blending, mixing, and compounding of food and flavour ingredients and holds the Halal certification.
"Euro Chemo-Pharma's strategic positioning is fully aligned with IMCD, providing us the complementary portfolio to accelerate growth in the Malaysian market," remarked 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," concluded Igerl.
"We have managed to grow the company to be the largest and most efficient speciality ingredients distributor in Malaysia," commented Jeryl Tan, Executive Director at Euro Chemo-Pharma. "With the mindset that if you don’t step forward, you are always in the same place, we believe that IMCD would be our best partner in the journey to drive growth and provide an exciting new home for our people," concluded Tan.
The closing of the transaction is subject to customary closing conditions and is expected to take place in the last quarter of 2023.
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