Specialty ingredient distributor IMCD has signed an agreement to acquire 100% of TECOM Ingredients' shares.
The Spanish ingredient and additive distributor has been serving the food and nutrition market in Iberia since 1996, and has a portfolio than spans a wide range of applications.
This includes, health and nutrition, savoury, bakery/pastry, dairy, plant-based beverages, confectionery, meat and ready meals.
According to TECOM, its health and nutrition portfolio primarily focuses on high-value and clean-label products, including solutions for women's health, weight management, cognition, sports nutrition and cardiovascular wellness.
With a team of 16 employees TECOM reported an annual revenue of €18m in FY2024.
By acquiring TECOM, IMCD will bolster its presence within the lucrative and growing nutraceutical market, offering its customers a wide range of solutions for precision health and overall wellbeing.
“By acquiring TECOM, we are both enhancing our presence in Iberia and expanding our portfolio with ingredients that complement our current offering," noted José Alcover, Managing Director of IMCD Iberia & Maghreb.
“TECOM's team have deep expertise in market-specific food applications, which we believe will be highly beneficial for our customers across Spain and further afield," he stated.
“Joining IMCD marks an exciting new phase in our journey," added Sixto Yañez, Commercial Director and Co-Founder of TECOM.
"We are bringing together two companies that share a strong culture of innovation, service, and long-term partnerships. This step opens up new avenues for growth and will allow us to offer even greater value to our customers.”
Subject to customary closing conditions, the transaction is expected to close in Q2 of 2025.