IMCD acquisitions in Mexico
IMCD N.V. announced the acquisition of two speciality distribution companies in Mexico, Millikan S.A. de C.V. (“Millikan”) and Banner Química S.A. de C.V. (“Banner Química”). “It has been a very active year for our IMCD Mexico team, and we are pleased to maintain our growth momentum with the acquisitions of Millikan and Banner Química in this important Latin American market,” said Marcus Jordan, Americas President, IMCD. “Both companies perfectly complement our existing operations in Mexico and strengthen our technical and commercial offering in a number of core market segments.”
USD 15 Million and 60 employess
Both based in Mexico City, Millikan and Banner Química collectively generated a revenue of USD 15 million in 2019 and add 60 employees to the IMCD Mexico team. This latest development is preceded by the establishment of IMCD Mexico in April 2020, which serves the pharmaceuticals, food, nutrition, and personal care industries.
“Joining IMCD puts our company on the global map and we are delighted to share a mutual desire to offer market differentiation through technical expertise and trend-based solutions for the customers we serve,” said Francisco Camacho, General Director, Millikan. Millikan was established in 1998 and offers technical support and commercial expertise to customers in the food, nutrition, pharmaceuticals, and industrial markets.
“I anticipate that IMCD’s reputation for professionalism and market proficiency will create new opportunities for innovation and growth for our loyal customers and principal partners,” said Salvador Ramos, General Director, Banner Química. Banner Química has delivered formulatory solutions for the personal care and home care industries since 2009.
The acquisition of Millikan and Banner Química also enhances the distrubutor’s technical capabilities through the addition of its food and personal care laboratories, further strengthening IMCD’s global network of technical centres.