IMCD N.V., a global leading distribution partner, and formulator of speciality chemicals and ingredients, announces that IMCD Colombia has signed an agreement to acquire the distribution business of Joli Foods S.A.S. (“Joli Foods”) to expand its food and nutrition business and product portfolio.
“The addition of Joli Foods’ distribution business to IMCD Colombia’s food and nutrition portfolio is an exciting new development in our company’s growth history,” said Pilar Castellanos, Managing Director, IMCD Colombia. “We are pleased to welcome its team of specialized experts as we join forces to deliver expanded capabilities to support the needs of a market seeking innovative solutions. With our strengthened market offering, we are well equipped to address our customers’ formulatory challenges.”
Also Read : GrubMarket Acquires A&B Tropical Produce to Expand Further in Florida
Established in 1980, the distribution business of Joli Foods is based in Bogota, Colombia and supplies raw materials to the food, beverage and nutrition industries. In 2022, the distribution business generated a revenue of approximately USD 16 million, representing leading global suppliers that complement IMCD’s existing partnerships. IMCD welcomes 11 Joli Foods employees to its local organization.
“We have been impressed with IMCD’s ability to quickly develop into a leading speciality distribution partner in Colombia,” said Jorge Eduardo Leon, General Manager, Joli Foods. “As Joli Foods now focuses its efforts on producing value-added products and consumer foods, we are pleased to divest our distribution business to IMCD. With our aligned company values, xcomplementary portfolio and IMCD’s strong reputation as a multinational leader in this industry, we believe this acquisition is an important step for the Joli Foods distribution business to continue to succeed as the industry evolves.”
SOURCE : GlobeNewswire