On 31 October 2022, Shanghai Sanrise Industries & Development Co., Ltd. (“Sanrise”) signed the 100% equity transaction with IMCD China, a subsidiary of IMCD N.V. IMCD has acquired 70% of equities of Sanrise, and the remaining 30% will be acquired in 2025. The founder of Sanrise will continue to lead the company after the first acquisition. Grandall Shanghai Office has acted as Sanrise's legal advisor with LI Qiang (managing partner of Shanghai Office), HUANG Chao and DONG Liang (partners of Shanghai Office) and other lawyers serving the case. 

Founded in 2003 and headquartered in Shanghai, Sanrise has become one of the leading distributors in the personal care market in China. With approximately 60 employees, Sanrise earned a revenue of RMB630 million in 2021. As a distributor for many of the world's leading suppliers in China, it offers its customers a broad product portfolio, technical and formulation support. Upon this transaction, Sanrise will join IMCD group to distribute high quality specialty chemicals and ingredients.