IMCD, a global leader in the sales, marketing and distribution of speciality chemicals and food ingredients, announced on 30 June it will acquire the business of Chemicals and Solvents, which is based in Nairobi, Kenya, to expand its existing operations in Africa.
Chemicals and Solvents, founded by Abdul Farrah in 1989, is a distributor of ingredients for the cosmetics, detergents, pharmaceutical and food industries. Apart from its Kenyan operations, the company also serves regional markets, including Uganda and Tanzania.
In 2015, Chemicals and Solvents generated revenue of €R5 million with 26 staff. After completion of the transaction, expected in Q3 2016, the business will continue with its present management and staff.
A positive outlook
Commenting on the acquisition, Farrah says: ‘IMCD’s culture and strategy is an excellent fit with Chemicals and Solvents. We are in no doubt that this agreement will create new opportunities for future development and will enhance our service and technical support to our partners.’
Otto Brinkmann, MD of IMCD South Africa, adds: ‘We are very pleased to complete this acquisition. A local position in Kenya will offer us the opportunity to further grow in the African market and expand our partnerships and services beyond southern Africa.’