IMCD China, a leading global distributor of specialty chemicals and ingredients, acquires 100% of the shares of Shanghai Syntec Additive Limited and Shanghai VeeTc Fine Chemicals Company.
IMCD N.V., a leading global distributor of specialty chemicals and ingredients, announced that IMCD China has signed an agreement to acquire 100% of the shares of Shanghai Syntec Additive Limited and Shanghai VeeTc Fine Chemicals Company today. The transaction is expected to be completed within the next five weeks.
IMCD Group, based in the Netherlands, is a distribution company specializing in specialty chemicals and food ingredients. It currently has companies and offices in 45 countries worldwide. Entered in China since 1996, the business of IMCD Group ranges from coatings, plastics, pharmaceuticals, food and personal care. Moreover, IMCD completed the acquisition of Maquimex (Mexico) and signed an acquisition agreement with Ocotec Chemical (China) in Q3 2021.
Andreas Iger, Managing Director of IMCD China, said: “The personal care market is an integral part of IMCD’s growth strategy in China. This acquisition allows us to accelerate our growth momentum in the form of additional suppliers while maintaining organic growth. The new fully equipped Shanghai lab makes it easy for us to leverage our formulation expertise to provide added value to our customers.”
Founded in 2003, Syntec is a specialized supplier of cosmetic ingredients, detergent ingredients, energy and environmental industry additives and fragrances as well as is the distributor in China for many leading world-class suppliers, providing service for companies such as IFF, Sasol, Wilmar, Symrise and many others.
“We are excited to join IMCD. We are committed to providing innovative solutions to our customers and partners through a service-oriented approach like IMCD,” said Yu Min, Founder and General Manager of Syntec. By leveraging IMCD’s global network and resources, we will be able to achieve sustainable growth and mutual progress in the personal care market.”