December 13 2024, David R Brown
IMCD China strengthens its life science business with the acquisition of Daoqin
IMCD N.V., a leading global distribution partner and formulator of speciality chemicals and ingredients, has signed an agreement to acquire the business of the Chinese food and nutraceutical ingredient distributor: Daoqin Biological Technology (Shanghai) Co., Ltd., Longyu International Trade (Shanghai) Co., Ltd. and Long'en Biotechnology (Guangzhou) Co., Ltd. in China (jointly "Daoqin").
The addition of Daoqin marks another step in our journey to deepen our presence in the food and nutrition markets and broadens the scope of our life science business portfolio
Nicky Huang
Managing Director of IMCD China
Established in 2011, Daoqin specialises in the distribution of functional nutrition, nutraceutical and food ingredients. Daoqin represents leading suppliers and offers, through its dedicated technical team and its laboratory, innovative solutions to its customers in the food, personal care and pharmaceutical industries. Daoqin is headquartered in Shanghai, China, and generated a revenue of approximately CNY 122 million (EUR 16 million) in 2023 with 21 employees.
“The addition of Daoqin marks another step in our journey to deepen our presence in the food and nutrition markets and broadens the scope of our life science business portfolio,” remarked Nicky Huang, Managing Director of IMCD China. “With the acquisition of Daoqin, we are very excited to welcome a very engaged and talented team and leverage our complementary portfolios and technical expertise to enhance our capabilities and offering in the local market,” concluded Huang.
“The Daoqin team is excited to join IMCD, as we believe there are strong synergies between our businesses and capabilities,” said Jack Ning, General Manager of Daoqin. “By leveraging IMCD's exceptional global network and resources, we look forward to bringing greater innovation and value to customers in the life sciences markets in China.”
The closing of the transaction is subject to customary closing conditions and is expected to take place in the second quarter of 2025.
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, the 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 4,442.6 million in 2023 with nearly 4,736 employees in over 60 countries, working from 116 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 plus customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release
Further Information
Visit: https://www.imcdgroup.com