pcJ News Briefs – IMCD N.V. (AMS: IMCD) has closed previously announced acquisition of 100% of Brampton, Ontario based L.V. Lomas.
Financial terms were not disclosed. IMCD N.V. said it intends to finance the acquisition with available cash and existing bank facilities.
photo credit: IMCD
IMCD completes acquisition of L.V. Lomas
ROTTERDAM, The Netherlands (1 September 2017, 7:00 CET) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and food ingredients, today announces that effectively 31 August 2017, it has successfully completed the acquisition of 100% of the Canadian and US specialty and ingredients distributor L.V. Lomas. The agreement on the acquisition of L.V. Lomas was announced by IMCD in its press release of 4 August 2017.
Established in 1960 and with activities at six locations in Canada and the US, including offices in Toronto (Head Office), Montreal and Vancouver, L.V. Lomas is one of North Americas leading distributors of specialty chemicals, ingredients and raw materials and is distinguished by its experienced and qualified professionals that provide its customers with advanced technical support and market intelligence. In 2016, the acquired business of L.V. Lomas generated revenue of C$383 million and realised a normalised EBITDA of C$18 million with approximately 280 employees.
With its asset light business model and long term relationships with leading global chemical and ingredient suppliers L.V. Lomas has an excellent fit with IMCD’s business model and strategy and immediately provides IMCD with a significant presence in Canada and a further enhanced position in the US.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.
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About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Asia-Pacific and Americas, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends. Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of € 1,715 million in 2016 with more than 1,800 employees in over 40 countries on 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 34,000 customers and a diverse range of world-class suppliers.
To find out more about IMCD, please visit www.imcdgroup.com