IMCD China to acquire Sanrise, bolstering market leadership in the life science industry
October 31 2022 - 2:00PM
IMCD China to acquire Sanrise, bolstering market leadership in the
life science industry
ROTTERDAM, The Netherlands (October 31, 2022) – IMCD N.V.
(“IMCD” or “Company”), a leading distributor of speciality
chemicals and ingredients, today announces that IMCD has signed an
agreement to acquire 100% of the shares of Shanghai Sanrise
Industries & Development Co., Ltd. (“Sanrise”), one of the
leading distributors in the personal care markets in China.
The transaction will take place in two tranches, with IMCD now
acquiring 70% of Sanrise’s share capital and the remaining 30% in
2025. The founders of Sanrise will continue to lead the company
post-completion of the first tranche.
Founded in 2013 and headquartered in Shanghai, Sanrise has
become one of the leading distributors in the personal care markets
in China. Sanrise offers a wide range of personal care and
industrial solutions with a key focus on personal care
applications. It represents leading global suppliers providing its
customers with an extensive portfolio backed by technical and
formulation support. With approximately 60 employees, Sanrise
generated a revenue of approximately RMB 630 million (ca. EUR 90
million) in 2021.
“The acquisition will provide IMCD with a comprehensive
portfolio from leading global suppliers and elevate our technical
expertise with the addition of a fully-equipped technical centre,
putting us in a strong position in the Chinese market,” commented
Andreas Igerl, President of IMCD Asia. “This is a significant
milestone to accelerate our growth momentum by complementing our
existing life science portfolio and business.”
Sanrise adds a personal care application laboratory to IMCD’s
global network of technical centres.
“I am impressed with IMCD’s deep knowledge of the personal care
market and the recognition given to Sanrise,” said Tony Wang,
Founder and General Manager of Sanrise. “I believe that IMCD will
elevate our operations and management with their globalisation and
network.”
The closing of the transaction is subject to customary closing
conditions and regulatory approval and is expected to take place in
the first quarter of 2023.
Attached, please find the full press release in pdf format, the
main visual, and the photo caption.
- Caption - IMCD China to acquire Sanrise, bolstering market
leadership in the life science industry
- Press Release - IMCD China to acquire Sanrise, bolstering
market leadership in the life science industry
- Photo - IMCD China to acquire Sanrise, bolstering market
leadership in the life science industry
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