ROTTERDAM, The Netherlands (1 August 2023) - IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, formulator of speciality chemicals and ingredients, and solutions provider, today announces that it signed an agreement to acquire 100% of the shares of Sachs Chemical, Inc. ("Sachs").
"Sachs' strong industry reputation, close customer relationships and customized solutions for the pharmaceuticals industry are an excellent fit with IMCD," said Fernando J. Espinosa, Jr., LATAM North Managing Director, IMCD. "Puerto Rico is an important production location for the major US-based pharmaceuticals customers, and this acquisition is an important step to accelerate IMCD's growth in the region."
Sachs has operated in Puerto Rico since 1986. In 2015, the business expanded to Costa Rica, supplying to the advanced materials markets. Headquartered in the San Juan metropolitan area of Puerto Rico, Sachs generated a revenue of approximately USD $50 million in 2022. It is ISO 9001:2015 certified, has strategically located warehouses in Puerto Rico; plus a newly constructed state-of-the-art warehouse and facility in San Jose, Costa Rica to serve the Central American markets. IMCD welcomes Sachs' 38 employees to its local organization.
"Sachs Chemical has been a beacon of innovation and customer service in the region for nearly four decades," said Michelle Ortega, Operations Manager, Sachs Chemical. "The opportunity to become part of IMCD's worldwide presence is a catalyst for further growth. With our shared corporate values and customer first mentality, we look forward to providing our customers in the region with a comprehensive approach to meet their needs."
IMCD entered the Puerto Rican pharmaceuticals market in 2016. The acquisition of Sachs marks the entity's first purchase since IMCD Puerto Rico was established. It demonstrates a firm intention of business development in the pharmaceuticals industry in the LATAM region.
The closing of the transaction is subject to customary closing conditions and is expected to take place in August 2023.
Attached, the full press release in pdf format, the main visual and the photo caption.
Attachments
- main visual_IMCD further strengthens its pharmaceutical offering in the Americas with the acquisition of Sachs Chemical, Inc. (https://ml-eu.globenewswire.com/Resource/Download/9269a86b-002d-4687-9161-c7d362467d58)
- Photo caption_IMCD further strengthens its pharmaceutical offering in the Americas with the acquisition of Sachs Chemical (https://ml-eu.globenewswire.com/Resource/Download/e67d4b9d-338f-4039-8fe7-1f5c227d3979)
- Press release_IMCD further strengthens its pharmaceutical offering in the Americas with the acquisition of Sachs Chemical (https://ml-eu.globenewswire.com/Resource/Download/d0f42f8e-7f8a-4eb0-b57b-eeb84d8191f8)
