December 27 2023, David R Brown
IMCD Colombia to acquire the distribution business of Joli Foods S.A.S. to strengthen its food and nutrition portfolio
IMCD N.V., a global leading distribution partner, and formulator of speciality chemicals and ingredients, has announced that IMCD Colombia has signed an agreement to acquire the distribution business of Joli Foods S.A.S. ("Joli Foods"J) 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
Pilar Castellanos
Managing Director of IMCD Colombia
“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.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing, and distribution of speciality chemicals and ingredients. Its result-driven professionals
provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product
portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 4,601 million in 2022 with nearly 4,323 employees in over 50 countries, working from 109 offices spanning 6 continents. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best-in-class solutions and provide value through expertise for around 60,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release
Further Information
Visit: https://www.imcdgroup.com