Azelis Boosts China Presence with Ingredients Plus Assets
Azelis has agreed to acquire the Greater China operations of Ingredients Plus for an undisclosed sum, boosting the European distributor’s presence in the Chinese personal care industry. The deal is expected to close by the end of this month.
The Ingredients Plus group, based in Australia, is an independent distributor of products in the beauty and personal care, household care, health, pharmaceutical and nutrition markets.
Specifically, the transaction will see Azelis buy 100% of the shares of Ingredients Plus Hong Kong and its wholly owned subsidiaries in Shanghai and Guangzhou. Last year, Azelis China established a strong footprint in the local personal care market through the purchases of Cosbond and Bronson & Jacobs.
Ingredients Plus China employs more than 40 people in Shanghai, Guangzhou and Hong Kong, where Azelis said it supplies a sizeable base of international, regional and indigenous local customers with an attractive portfolio of world-renowned principals.
“Ingredients Plus China’s portfolio is highly complementary to ours and will boost the personal care range of Azelis China,” said Laurent Nataf, CEO & president of Azelis Asia-Pacific. “The expansion of our lateral value chain in China, the second largest global economy and one of the fastest growing, is a key strategic objective for us. The acquisition will increase our market presence and overall product offering, while also continuing our diversification to provide a more comprehensive portfolio across market segments.”
Azelis has made three acquisitions in the past month alone. On Jul. 1, the specialty chemicals distributor revealed it had bought South Korean food ingredients distributor MH, a deal that was followed on Jul. 14 by an agreement to take Coseal, another South Korean firm that specializes in the distribution, repackaging and blending of agricultural/horticultural surfactants.
On Jul. 20, Azelis also announced it was buying Quimdis, a French distributor of ingredients for nutraceuticals, flavors & fragrances, animal nutrition, personal care, pharma and food. This deal is also expected to close by end August.
Author: Elaine Burridge, Freelance Journalist
