Speciality ingredient distributor IMCD has acquired a majority stake in Valuetree Ingredients to expand its beauty and personal care footprint in India.
Founded in 2005, Valuetree employs a team of 44 staff and generated revenue of approximately 4.4 billion rupees (circa €48m) in the financial year ending 31 March 2023.
The transaction will take place in two tranches, with IMCD initially acquiring 70% of the share capital and the remaining 30% to be acquired next year.
Valuetree is an ingredient supplier to the beauty and personal care market that provides an extensive portfolio to its customers through an in-house application laboratory with formulation and technical support.
The founders, Shailesh Karwa and Sharad Dalmia, will continue to lead the company post-completion of this first tranche.
“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,” they said.
IMCD India & Bangladesh managing director Narendra Varde added: “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.”
In a related development, Valerie Diele-Braun (pictured) has started her tenure as chief executive of Rotterdam-based IMCD.
Diele-Braun was formerly chief executive of CABB Group, a German fine chemicals player and life science company, manufacturing active ingredients as well as advanced intermediates, and has over 20 years of leadership experience in the speciality chemicals and ingredients industry.
She succeeds Piet van der Slikke, who in December 2021 announced his intention to retire.
“I have the honour to support and lead IMCD in its next chapter. Jointly with our more than 4,800 employees, we will ensure that IMCD continues to deliver outstanding service as a trusted and high-performing business partner for our customers and suppliers,” she said.