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IMCD, a global leading distribution partner, formulator of speciality chemicals and ingredients, has signed an agreement to acquire the business of the speciality distribution company Guangzhou RBD Chemical Co., Ltd. in China (“RBD”).
Established in 2004, RBD focuses mainly on the lubricant additives and represents leading global suppliers. It is based in Guangzhou, China, and generated a revenue of approximately CNY75M (ca. €10M) in 2022. It has 12 employees.
“The lubricants industry stands as the last missing piece in our business diversification within the Chinese industrial market, solidifying our presence across all major sectors,” said Joe Cao, Commercial Director of IMCD China. Reflecting on the acquisition, Cao emphasised the meticulous efforts of the RBD team in cultivating the lubricants market in South China for 20 years. “This strategic move empowers us to establish our business coverage and footprint in the lubricants and energy market, allowing us to keep providing our partners and customers with the services and solutions that they are used to,” concluded Cao.
“I hope RBD’s 20 years of comprehensive resources can swiftly integrate into IMCD’s global business model, enhancing its commercial and operational strength in China’s lubricant industry,” remarked Xiang, President of RBD. “This acquisition symbolises a new journey, a catalyst for the joint development of both parties and support for IMCD in achieving more in the Chinese market,” concluded Xiang.
The closing of the transaction is subject to customary closing conditions and is expected to take place in the first quarter of 2024.