December 18 2024, David R Brown
IMCD to acquire the life science business of YCAM in South Korea expanding its footprint in beauty and personal care markets
IMCD N.V., a leading global distributor and formulator of speciality chemicals and ingredients, has signed an agreement to acquire the personal care and pharmaceutical business of YCAM Corporation, a distributor based in South Korea ("YCAM").
This acquisition will be an important step in expanding our footprint in our beauty and personal care market and further enriches our life science portfolio
Dongjoon Lee
Managing Director of IMCD South Korea
Founded in 2010, YCAM specialises in distributing speciality ingredients for the cosmetics, personal care, and pharmaceutical markets. YCAM represents leading global suppliers and focuses on providing customers with formulatory advice and specialty ingredients through its technical team and laboratory support, helping them to stay abreast of market trends. YCAM is located in Anyang, South Korea, and generated a revenue of approximately KRW 26 billion (approx. EUR 17 million) in 2023 and has 8 employees.
“This acquisition will be an important step in expanding our footprint in our beauty and personal care market and further enriches our life science portfolio,” remarked Dongjoon Lee, Managing Director of IMCD South Korea. “We are excited to welcome such a dedicated and skilled team to IMCD.”
“I am convinced that YCAM's extensive resources and knowledge can swiftly integrate into IMCD's global business model, enhancing its commercial and operational strength in South Korea's personal care and pharmaceuticals industries,” remarked Munkyum Kim, CEO of YCAM. “My team has been an invaluable asset to the company, and I believe they will have even more opportunities to develop and maximise their potential with IMCD.”
The closing of the transaction is subject to customary (regulatory) 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