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IMCD To Acquire ET Horn

Builds on commitment to provide national US coverage

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By: TOM BRANNA

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IMCD NV, a distributor of specialty chemicals and food ingredients, will acquire ET Horn. The move is said to be an excellent fit with IMCD's US activities and supports the company's strategy of offering to its suppliers and customers an organization with national US coverage and dedicated segment expertise.


“Horn is a leading specialty distributor in the US with an excellent reputation. There is a very good fit between Horn and our current US organization and we are convinced that we can jointly offer exciting opportunities to our staff, suppliers and customers,” said Marcus Jordan, president of IMCD Americas. “Our combined businesses are excellently positioned to achieve accelerated growth on a national US basis through our specialist market focused teams.”


ET Horn was established in 1961 and is a specialty chemicals distributor in the US with a focus on coatings, construction, plastics, personal care, human food & nutrition, animal nutrition, nutraceuticals and other specialties. With a head office in La Mirada, California Horn represents leading suppliers and is primarily focused on the West and Southwest regions of the US. Last year, Horn hadsales of $276 million, a normalized EBITDA of $2 million and has approximately 200 employees.
 

In a joint statement, Horn Board Members Bob Ahn and Jeff Martin said, “Horn and IMCD have similar strategies and cultures and we look forward to working together to expand our business in the US further.”

 

The acquisition will be paid from available cash and existing facilities.

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