Netherland's IMCD buys Makati-based Danasia Inc.

IMCD N.V., a global sales, marketing and distribution firm based in Rotterdam, Netherlands expanded into the Philippine market after completing the acquisition of Makati-based distributor Danasia Inc.

 

“We are delighted with the acquisition of Danasia," IMCD said in an e-mailed statement Monday. 

 

"Marking IMCD’s first entry into the rapidly emerging Philippines market, this acquisition will provide for us a valuable platform to further expand and strengthen our presence in this market," vice president for Asia Albert Stevens said in the statement.

 

Transaction details, like pricing, were not readily available in the statement.

 

Founded in 1993, Danasia Inc. is a distributor of leading brands of food and industrial ingredients from the US, Europe, and Asia-Pacific and has a strong foothold in the Philippine food industry.

 

Last year, it generated sales of approximately €7 million (P397.845 million) and employed 22 people.

 

In the same statement, IMCD said it has agreed with Animus International Corp. not to go through the sale of the latter's assets and business in the Philippines.

 

Last March, IMCD signed an agreement to acquire Animus International, which specializes in the sale and distribution of raw materials for applications in the food, construction, paint and coatings and personal care industry. – Danessa O. Rivera/VS, GMA News