IMCD N.V., a leading distributor of specialty chemicals and ingredients, has signed an agreement to acquire 100% of the shares of Shanghai Sanrise Industries & Development Co., Ltd., one of the leading distributors in the personal care markets in China.

The transaction will take place in two tranches, with IMCD now acquiring 70% of Sanrise’s share capital and the remaining 30% in 2025. The founders of Sanrise will continue to lead the company post-completion of the first tranche.

Founded in 2013 and headquartered in Shanghai, Sanrise has become one of the leading distributors in the personal care markets in China. Sanrise offers a wide range of personal care and industrial solutions with a key focus on personal care applications. It represents leading global suppliers providing its customers with an extensive portfolio backed by technical and formulation support. With approximately 60 employees, Sanrise generated a revenue of approximately RMB 630 million (EUR 90 million) in 2021.

“The acquisition will provide IMCD with a comprehensive portfolio from leading global suppliers and elevate our technical expertise with the addition of a fully-equipped technical centre, putting us in a strong position in the Chinese market,” commented Andreas Igerl, President, IMCD Asia.

“This is a significant milestone to accelerate our growth momentum by complementing our existing life science portfolio and business,” added Igerl.

Sanrise adds a personal care application laboratory to IMCD’s global network of technical centres.

“I am impressed with IMCD’s deep knowledge of the personal care market and the recognition given to Sanrise,” said Tony Wang, Founder and General Manager, Sanrise.

“I believe that IMCD will elevate our operations and management with their globalisation and network,” added Wang.

The closing of the transaction is subject to customary closing conditions and regulatory approval and is expected to take place in the first quarter of 2023.