IMCD Expands its Food and Nutrition Business through Acquisition of Joli Foods' Distribution Business

IMCD, a global leader in specialty chemicals and ingredients distribution, has announced the signing of an agreement for the acquisition of Joli Foods' distribution business by IMCD Colombia. This strategic move aims to bolster IMCD's food and nutrition business and diversify its product portfolio, while providing enhanced support to the market's demand for innovative solutions. The acquisition is expected to strengthen IMCD's position as a leading distribution partner in Colombia.

Expansion of Food and Nutrition Portfolio:
The addition of Joli Foods' distribution business to IMCD Colombia's food and nutrition portfolio represents a significant milestone in the company's growth trajectory. By integrating Joli Foods' operations, IMCD gains access to a team of specialized experts and expands its capabilities to meet the evolving needs of customers in the food, beverage, and nutrition industries. This expansion enhances IMCD's ability to address formulatory challenges and deliver comprehensive solutions to its clients.

Established Presence and Revenue Generation:
Joli Foods' distribution business, founded in 1980 and headquartered in Bogota, Colombia, serves as a supplier of raw materials to the food, beverage, and nutrition sectors. With an impressive revenue of approximately USD 16 million in 2022, the business represents partnerships with leading global suppliers that complement IMCD's existing network. As part of the acquisition, IMCD will welcome 11 employees from Joli Foods, integrating their expertise into its local organization.

Strategic Alignment and Value Proposition:
The decision to divest the distribution business aligns with Joli Foods' strategic focus on value-added products and consumer foods. By entrusting IMCD with their distribution operations, Joli Foods recognizes the shared values and complementary portfolios between the two companies. Leveraging IMCD's multinational presence and strong reputation in the industry, Joli Foods anticipates that this acquisition will propel the distribution business towards continued success amidst industry evolution.

Closing and Future Outlook:
The completion of the transaction remains subject to customary closing conditions and is expected to occur in the first quarter of 2024. IMCD's acquisition of Joli Foods' distribution business highlights its commitment to expanding its food and nutrition segment and providing comprehensive solutions to its customers. This strategic move positions IMCD as a key player in the Colombian market, equipped with an enhanced portfolio and a strengthened ability to meet the evolving demands of the food, beverage, and nutrition industries.

IMCD's acquisition of Joli Foods' distribution business marks a significant step in the expansion of its food and nutrition business. By integrating Joli Foods' expertise and customer base, IMCD enhances its position as a leading distribution partner in Colombia. The acquisition aligns with Joli Foods' strategic goals while enabling IMCD to deliver innovative solutions to its customers and address formulatory challenges. With the anticipated closing of the transaction in the first quarter of 2024, IMCD is well-positioned to capitalize on the growth opportunities in the food and nutrition sector.