IMCD acquires Makeni Chemicals in Brazil
IMCD Group has acquired a majority interest in Makeni Chemicals, a leading speciality chemical distributor in Brazil. Makeni's portfolio covers various markets includig construction, coatings, personal care, nutrion, adhesives and plastics. The company owns two application labs for the nutrition and the coatings segment as well as a laboratory for quality control. A minority interest will be kept by the Medrano founding family, with Reinaldo Medrano staying in his position as managing directior of the company.
Piet van der Slikke, CEO of IMCD Group, commented: "This is an important step in the realisation of our strategy to develop in the largest country of Latin America and one of the leading economies in the world. We are proud to be associated with such a strong partner in Brazil and we look forward to work together with the staff to further develop the business.''
Makeni, founded in 1981, is headquartered in São Paulo and has a sales revenue of BRL 200 million with more then 100 employees. Nine sales representative offices are spread across Brazil, with its main warehouse facility in Diadema offering both liquid and bulk storage capacity. Rubens Medrano, who founded the company, said: "We are very excited to have the opportunity to join forces with such a reputable international player like IMCD as it will enable us to expand in Brazil and further strengthen our services to our suppliers and customers."
Rubens Medrano, as member of the board, will be involved in the future development of the business in Brazil and will help to integrate Makeni into the IMCD Group.