ROTTERDAM, The Netherlands (20 March 2024) - IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, formulator of speciality chemicals and ingredients, today announces that IMCD has signed an agreement to acquire 100% of the shares of Bretano Costa Rica, S.A., Bretano El Salvador, S.A de C.V., Bretano Guatemala, S.A., and Grupo Bretano México, S. de R.L. de C.V. (jointly "Bretano").
Established in 1961, Bretano is headquartered in Costa Rica, with commercial and logistics operations in Mexico, Guatemala and El Salvador. Bretano is one of the leading speciality ingredients distributors in Latin America for the food industry and supplies chemicals to construction and other industrial markets. Generating a revenue of approximately USD 48 million in 2023, Bretano will add 101 employees to IMCD throughout Latin America. In addition, Bretano adds a food application laboratory, located in Costa Rica, to IMCD's global network of technical centres.
"IMCD's progress to become the distribution partner of choice throughout Latin America over the past four years has been remarkable," said Nicolas Kaufmann, Americas President, IMCD. "As we embark upon this new journey with Bretano, we are delighted to align our complementary strategies for growth and build on the company's legacy as a speciality distribution leader in the food industry."
"After a 60-year history of offering comprehensive, innovative solutions to the industry, I am pleased to know that Bretano's future will continue with a company whose values and principles are closely aligned with ours," said Jorge León Dub, President of the Board of Directors, Bretano. "Bretano is committed to maintaining its reputation for technical and commercial excellence. We look forward to the expanded opportunities that will become available to employees, customers and supplier partners as a result of IMCD's international scale and network."
The closing of the transaction is subject to customary closing conditions and regulatory approval and is expected to take place in the second quarter of 2024.
Attached, the full press release in PDF format, the main visual and photo caption.
Attachments
- PR_IMCD further expands its food and nutrition footprint in Latin America with the acquisition of Bretano (https://ml-eu.globenewswire.com/Resource/Download/467d6402-1778-4bbe-8803-69c324a5d307)
- Photo caption_IMCD further expands its food and nutrition footprint in Latin America with the acquisition of Bretano (https://ml-eu.globenewswire.com/Resource/Download/600b91bc-39a8-47ea-b6f4-40a530e7a646)
- Photo_IMCD further expands its food and nutrition footprint in Latin America with the acquisition of Bretano (https://ml-eu.globenewswire.com/Resource/Download/3070223b-9f82-406f-a2d6-c4042c174f95)
