ROTTERDAM, The Netherlands (27 December 2023) - IMCD N.V. ("IMCD" or "Company"),
a global leading distribution partner, and formulator of speciality chemicals
and ingredients, today announces that IMCD Colombia has signed an agreement to
acquire the distribution business of Joli Foods S.A.S. ("Joli Foods") to expand
its food and nutrition business and product portfolio.
"The addition of Joli Foods' distribution business to IMCD Colombia's food and
nutrition portfolio is an exciting new development in our company's growth
history," said Pilar Castellanos, Managing Director, IMCD Colombia. "We are
pleased to welcome its team of specialized experts as we join forces to deliver
expanded capabilities to support the needs of a market seeking innovative
solutions. With our strengthened market offering, we are well equipped to
address our customers' formulatory challenges."
Established in 1980, the distribution business of Joli Foods is based in Bogota,
Colombia and supplies raw materials to the food, beverage and nutrition
industries. In 2022, the distribution business generated a revenue of
approximately USD 16 million, representing leading global suppliers that
complement IMCD's existing partnerships. IMCD welcomes 11 Joli Foods employees
to its local organization.
"We have been impressed with IMCD's ability to quickly develop into a leading
speciality distribution partner in Colombia," said Jorge Eduardo Leon, General
Manager, Joli Foods. "As Joli Foods now focuses its efforts on producing value-
added products and consumer foods, we are pleased to divest our distribution
business to IMCD. With our aligned company values, complementary portfolio and
IMCD's strong reputation as a multinational leader in this industry, we believe
this acquisition is an important step for the Joli Foods distribution business
to continue to succeed as the industry evolves."
The closing of the transaction is subject to customary closing conditions and is
expected to take place in the first quarter of 2024.
Attached, the press release in pdf format, the main visual and the photo
caption.
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