IMCD N.V., a leading distributor of specialty chemicals and food ingredients, announced Aug. 1 that it has successfully completed the acquisition of 100 percent of the outstanding shares of U.S. specialty chemicals distributor E.T. Company (“HORN”). The agreement on the acquisition of HORN was announced by IMCD in its press release of June 12.
HORN is an excellent fit with IMCD’s U.S. activities and supports the strategy of offering to its suppliers and customers an organization with national U.S. coverage and dedicated segment expertise.
HORN was established in 1961 and is a leading specialty chemicals distributor in the U.S. with focus on coatings, construction, plastics, personal care, human and food nutrition, animal nutrition, nutraceuticals and other specialties. With a head office in La Mirada, Calif., HORN represents leading suppliers and is primarily focused on the west and southwest regions of the U.S. In 2017, HORN generated revenue of USD 276 million, a normalized EBITDA of USD 12 million and has approximately 200 employees.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.