Barentz brings acquisition trail to Eastern Europe with IMCoPharma acquisition

05 Nov 2019 --- Barentz, a Netherlands-based distributor of ingredients in the life science markets, is continuing its acquisition spree with a majority shareholding in Czech Republic-based IMCoPharma, which is active in pharmaceutical ingredients. This move gives Barentz the licensing capability to do business with all pharmaceutical companies in the Commonwealth of Independent States (CIS) region and Ukraine. The deal will bolster IMCoPharma’s position in this market and create new opportunities. The financial details have not been disclosed.

“This acquisition fits into our strategy of growing and consolidating our business in the global life science markets. We strongly believe in doing business with local experts, who know how to respond to the local needs of our customers. Our deep technical knowledge of active pharmaceutical ingredients and excipients, and our capability to manage quality throughout the complete supply chain makes IMCoPharma and Barentz a perfect fit,” Torsten Pieschnick, Vice-President of Pharma and Personal Care at Barentz, tells NutritionInsight.

Currently, IMCoPharma’s active pharmaceutical ingredients, excipients and final dosage forms are made by various European pharmaceutical manufacturers. The company researches, markets and distributes a broad portfolio of quality products and services in the CIS region and Ukraine. 

“This is a large area with its own local laws and systems. There is a trend of local manufacturing of pharmaceuticals. In this attractive, growing market we can add value with the earlier mentioned, mutual capabilities,” continues Pieschnick.

“IMCoPharma is a leader and authority in this business segment in the CIS countries and Ukraine. This strategic investment gives us the licenses and immediate access to do business with all pharmaceutical companies in this huge region. It will certainly lead to strong synergies with our existing suppliers and portfolio of ingredients,” says Hidde van der Wal, CEO of Barentz.

Pieschnick adds that the use of local laboratories and technical teams will be a key way to make synergies in technical knowledge and quality management stronger. 

This is the latest of many acquisitions from Barentz. “With Barentz on board, we can – together with all employees – further build on our success. It will give us many new business opportunities to strengthen our position as a leader in the CIS region and Ukraine. I am convinced this is a perfect fit and we look forward to a fruitful cooperation and common growth,” notes Ivan Mikes, Founder and CEO of IMCoPharma.

Augmenting with acquisitions 
Barentz has been rapidly expanding its footprint. In August, it announced a South African joint venture (JV) with SK Chemtrade Services, a supplier of high-quality raw materials to the life sciences industries in the region. Johannesburg is “the stepping stone for the African continent,” and the venture will give Barentz quicker access to the market while offering SK Chemtrade the support of the knowledge and expertise of Barentz’ global network.

In June, the Barentz entered into a JV with TasteStrik, a Dutch family business and a leading developer, producer and supplier of high-quality flavorings and ingredients for the bakery, cereal, chocolate, confectionery, culinary, dairy and specialty foods industry. The move expanded Barentz’s activities in “the dynamic world of taste in food.”

The month prior to that, Barentz acquired Finland-based Casmo Oy, a specialized distributor of casings, smoke condensates and flavors for the meat industry. The takeover built on Barentz’s current wide range of products and allowed the company a greater diversity of sources for delivering quality solutions within the meat industry. 

Barentz also entered into a JV with Tovani Benzaquen Ingredients in April 2018. The company hoped that its collaboration with the Brazilian business would aid its Latin American expansion. In the same month, Barentz also established another JV with Deltagen Group, a specialized food ingredients distributor headquartered on Curaçao, with local presence in Venezuela, Colombia, Ecuador, Chile, and Peru. 

By Katherine Durrell