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BusinessWire India
Rotterdam [Netherlands]/ Mumbai (Maharashtra) [India], January 10: IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, and formulator of speciality chemicals and ingredients, today announces the acquisition of 70% of Valuetree Ingredients Private Limited ("Valuetree") to expand its beauty and personal care footprint in India. Founded in 2005, Valuetree is a prominent ingredient supplier to the beauty and personal care market. It provides an extensive portfolio of specialty ingredients and through an in-house application laboratory, offers formulation and technical support to its customers. Valuetree employs a team of 44 employees and generated a revenue of approximately INR 4.4 billion (ca. EUR 48 million) in the financial year that ended on March 31, 2023. "As the beauty and personal care market in India continues to experience double-digit growth, acquiring Valuetree perfectly fits in our global strategy, it significantly enhances our capabilities and enriches our product portfolio. It further enhances our position as a leading solution provider in India," said Narendra Varde, Managing Director, IMCD India & Bangladesh. "In a market dominated by large players, and now witnessing the emergence of direct to consumer (D2C) brands, our focus has been on customer centricity and providing innovative solutions. We are delighted that IMCD has partnered with us in Valuetree's next phase of growth," affirmed, Shailesh Karwa & Sharad Dalmia, co-founders of Valuetree, in a joint statement. The transaction will take place in two tranches, with IMCD now acquiring 70% of the share capital from the founders and the remaining 30% to be acquired in 2025. The founders of Valuetree will continue to lead the company post-completion of this first tranche. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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