IMCD Buys Israeli Distributor
Following a busy acquisition program in the second half of last year, Dutch distributor IMCD has kicked off 2020 with another addition to its stable. This time, the Rotterdam-based group has bought Israel’s Zifroni Chemical Suppliers. Financial terms were not disclosed.
Based in Rishon Le-Zion, Zifroni distributes pharmaceutical, personal care and other specialty chemical ingredients in Israel. The company employs nine people and generated revenues of €10.2 million in 2019.
“The acquisition of Zifroni is another important step in the globalization of our pharmaceutical business. Zifroni’s strong position within the innovative Israeli market and extensive portfolio in pharmaceuticals and personal care, provides the perfect fit with IMCD,” said John Robinson, IMCD business group director pharmaceuticals.
Last month, IMCD completed two acquisitions, namely South Korea’s Whawon Pharma and Switzerland’s DCS Pharma. These were preceded by the purchases of Colombian ingredients distributor Unired Quimicas in November 2019, India’s Monachem Additives in September and Matrix Ingredients in Singapore and Malaysia in August.