IMCD India to Acquire Specialty Chemical Distributor
Courtesy of IMCD India.
IMCD N.V. has signed an agreement to acquire 100% of the shares of Parkash DyeChem Private Limited. Parkash DyeChem is a chemical distributor serving the coatings and construction segments, as well as personal care and advanced materials markets. With around 60 employees, Parkash DyeChem generated a revenue of approximately INR 2,5 billion (€30 million) in the financial year that ended on March 31, 2022. The closing of the transaction is subject to customary closing conditions, and is expected to take place in December 2022.
“India is experiencing significant growth opportunities in building structures, as well as in printing inks and packaging, with an emerging demand for sustainable solutions. Joining forces with Parkash DyeChem, a leader in distribution of specialty chemicals to these industries, will expand IMCD’s footprint and help us improve our market position,” said Frank Schneider, business group director IMCD Coatings & Construction.
“We are delighted to become a strategic addition to IMCD India, with their strong global presence in specialty chemicals and similar mindset, it perfectly synergizes with Parkash DyeChem” said Naresh Arora, founder of Parkash DyeChem. “The combination of IMCD and Parkash DyeChem is an exciting opportunity to reshape the coatings and construction, personal care and advanced materials industries in a manner that will be beneficial for our customers and global partners,” said Chirag Arora, director of Parkash DyeChem.
For more information, visit: www.imcdgroup.com.
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