IMCD acquires distributor in Indonesia
IMCD Indonesia has signed an agreement to acquire 100% of the shares of PT Megasetia Agung Kimia in Indonesia. IMCD N.V., a leading distributor of specialty chemicals and ingredients which is headquartered in Rotterdam, The Netherlands, has a footprint in more than 50 countries in six continents.
The transaction will take place in two tranches, with IMCD now acquiring 70% of Megasetia’s share capital and the remaining 30% in 2025. The management of Megasetia will continue to lead the company post completion of the first tranche.
Founded in 1995, Megasetia is the leading distributor for specialty ingredients for the pharmaceuticals industry in Indonesia. In addition, it covers the personal care, home care, animal health and industrial markets, offering end-to-end solutions to its customers and partners with three laboratories, six offices, and six warehouses across Indonesia.
Megasetia generated revenues of approximately IDR974 billion (USD68 million) in 2020 with around 160 employees. It currently serves more than 1,000 customers and represents more than 50 of the world’s leading ingredients producers.
Indonesia is largest economy in Southeast Asia
“Indonesia is Southeast Asia’s largest economy and this acquisition provides excellent growth opportunities to strengthen IMCD’s positioning in the life science segments. In addition, it enables us to enhance our offering to local customers and partners,” said Haiko Zuidhoff, vice president of IMCD APAC.
“We are delighted to be part of IMCD’s global network. We are confident that our life science portfolio will complement their offering to customers and suppliers,” said Suryani Hartoyo, president director of Megasetia. “Our culture of growth through market knowledge, technical innovation, and high level of services, is very well aligned with IMCD’s strategy.”
The closing of the transaction is expected to take place in December 2021.