IMCD acquisition in Turkey
IMCD N.V. a distributor of speciality chemicals and ingredients, today announces that it has successfully signed an agreement to acquire the personal care business of Ejder Kimya İlaç Danışmanlık Sanayi ve Ticaret A.Ş. (“Ejder Kimya”). Ejder Kimya was founded in 1999 and is a Turkish chemicals distributor of raw materials for personal care and pharmaceuticals products and food additives. It has a strong and solid position in the personal care market in Turkey. Ejder Kimya’s personal care business generated a revenue of € 4.7 million in 2019.
Strengthens footprint in Turkey
Aylin Zakuto, Managing Director IMCD Turkey, comments: “This acquisition is a solid step to strengthen IMCD Turkey’s footprint in the personal care market in line with IMCD’s global growth strategy. Adding Ejder Kimya’s personal care market expertise and extensive portfolio to IMCD will expand our offered solutions to customers and accelerate the growth of our suppliers in the personal care market”.
Pervin Ejder, CEO and owner of Ejder Kimya, adds: “I am very excited and proud to hand over the value created by Ejder Kimya to the safe hands of IMCD. IMCD’s decisiveness to invest and grow in the personal care market enabled us to do this transaction. I am very confident that both our customers and suppliers will benefit from this transaction”.
The closing of the transaction is subject to customary closing conditions and regulatory approval and is expected to take place in early January 2021.