News

IMCD acquires 100% of Horn

19 Jun 2018

Specialty chemicals and food ingredients distributor IMCD has signed an agreement to acquire 100% of the outstanding shares of Horn. Horn is said to be an excellent fit with IMCD's US activities.

Specialty chemicals and food ingredients distributor IMCD has signed an agreement to acquire 100% of the outstanding shares of Horn. Horn is said to be an excellent fit with IMCD's US activities and to support the strategy of offering to its suppliers and customers an organisation with national US coverage and dedicated segment expertise. The deal is subject to fulfilment of transaction related conditions and customary regulatory review.

Horn was established in 1961 and focuses on the distribution of 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 South West regions of the US. In 2017, Horn generated revenue of $276 million, a normalised EBITDA of $12 million and has approximately 200 employees.

Marcus Jordan, President of IMCD Americas, commented: "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 organisation and we are convinced that we can jointly offer exciting opportunities to our staff, suppliers and customers. Our combined businesses are excellently positioned to achieve accelerated growth on a national US basis through our specialist market focused teams.