ROTTERDAM, THE NETHERLANDS — IMCD N.V., a Rotterdam-based distributor of specialty chemicals and food ingredients, has agreed to acquire 100% of the outstanding shares of E.T. Horn Co., a specialty chemicals distributor based in La Mirada, Calif. Founded in 1961 by E.T. “Jack” Horn., E.T. Horn focuses on human food and nutrition as well as coatings, construction, plastics, personal care, animal nutrition, nutraceuticals and other specialties.
E.T. Horn primarily supplies the West and Southwest regions of the United States. The company generated revenue of $267 million in 2017 and has about 200 employees. E.T. Horn and IMCD have similar strategies and cultures, and E.T. Horn looks forward to expanding its business in the United States through the transaction, said Bob Ahn and Jeff Martin, E.T. Horn board members.
“Horn is a leading specialty distributor in the U.S. with an excellent reputation,” said Marcus Jordan, president of IMCD Americas. “There is a very good fit between Horn and our current U.S. organization, 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 U.S. basis through our specialist market focused teams.”
The acquisition will be paid from available cash and existing facilities.