IMCD to buy Peak International API business
IMCD has agreed to acquire the pharmaceutical business of Peak International Products, a Netherlands-based distributor of APIs in the Benelux, Vietnam, Germany and Israel. The business, which had sales of about €5.8 million in 2019, will be integrated into IMCD’s Pharmaceuticals business group.
Shortly before this, IMCD, the world’s fourth largest chemical distributor, completed the much larger acquisition of a 70% majority stake in Signet Excipients, a major Indian distributor of excipients, as part of its platform for further growth in India and the Asia-Pacific.
Mumbai-based Signet distributes over 400 kinds of pharmaceutical and nutraceutical excipients including diluents, fillers, sweeteners, disintegrants, binders and surfactants in South Asia, the Middle East and Africa. It employs about 150 and had sales of €152 million in the 12 months to June 2020. IMCD will buy the rest of the company in 2024.
Terms were not disclosed in either deal, as was also the case recently, when IMCD bought South African distributor Siyeza Fine Chem and Vitaqualy of Brazil. Johannesburg-based Sizeya is active in pharmaceutical, veterinary, food and personal care ingredients. It employs 27 people, and turned over €11.7 million in 2019.
Meanwhile, VitaQualy is a speciality ingredient distributor in the food, nutrition, pharmaceuticals and nutraceuticals markets, based in São Paulo. In 2019, it had revenues of BRL 26 million and eight employees. The company will be fully integrated in 2021.