Netherlands-based distributor of specialty chemicals and ingredients IMCD N.V. reported today that it has signed an agreement to acquire materials distributor PromaPlast. The company serves the Mexican and US markets through PromaPlast Resinas S.A. de C.V., Proveedora de Materiales Plásticos S.A. de C.V., and PromaPlast USA Inc.

The terms of the transaction, which is expected to close in September, were not disclosed.

“The acquisition of PromaPlast is an exciting step into a major new market for IMCD México and further expands our capabilities in the United States,” said Olivier Champault, Business Group Director, IMCD Advanced Materials. “PromaPlast is a complementary addition to our global network of advanced materials experts and underscores our commitment to expanding opportunities for customers in Mexico and suppliers seeking a strong, reliable channel partner in the region.”

Privately owned PromaPlast was founded in 1996. It serves the packaging, footwear, consumer goods, home appliances, automotive, and other industrial markets with a diversified portfolio of resins and compounds as well as additive masterbatches.

“This acquisition is a natural progression into the next phase of PromaPlast’s 25-year history,” said Ricardo Méndez, General Manager, PromaPlast. “Our market reputation and steady growth throughout the years have led to this moment to join a global market leader. PromaPlast’s shareholders are pleased to find in IMCD a company with integrity that will value our talent and further develop the business and partnerships we built throughout the years. With IMCD’s range of resources, capabilities and global network, our team’s horizon has expanded to reach greater heights — we are looking forward to work towards an exciting future together,” said Méndez.

Listed on Amsterdam’s Euronext exchange, IMCD reported €3.4 billion in revenue in 2021. It employs more than 3,700 people in over 50 countries on six continents.