IMCD buys Kenyan Specialty Distributor
Netherlands-headquartered chemical distributor IMCD has expanded its operations in Africa following an agreement to buy Chemicals and Solvents (C&S) based in Nairobi, Kenya. C&S distributes ingredients to the food, cosmetics, detergents and pharmaceutical industries, also serving regional markets outside Kenya such as Uganda and Tanzania.
The company, which has 26 employees, reported revenue of €5 million in 2015. Founder of C&S, Abdul Farrah, said the acquisition by IMCD would create new opportunities for its future development and enhance its service and technical support.
For IMCD, the deal will provide a platform for further growth in the African market and allow expansion of its partnerships and services beyond Southern Africa. The transaction is expected to complete in the third quarter of 2016. Financial terms were not revealed.
In January 2013, IMCD purchased specialty chemicals and food ingredients distributor Chemimpo South Africa, now part of IMCD South Africa.