Azelis Buys Indian Distributor
Azelis has strengthened its presence in the Indian food & health market with the purchase of MK Ingredients & Specialties and its subsidiary SSD Industries. Financial terms were not disclosed.
The Mumbai-based family owned distributor supplies ingredients for food applications in the confectionery, bakery and dairy segments. It also provides chemicals for non-food sectors such as paints & coatings and industrial markets. Azelis will take over all of MK’s distribution activities as well as its food laboratory.
Aparna Khurana, managing director of Azelis India, noted that Azelis opened three application laboratories in India last year, servicing the personal care, food, and coatings, adhesives, sealants & elastomer (CASE) markets. “Combining the Azelis food lab with MK’s modern and fully equipped food lab will complement our technical expertise, especially in the dairy and bakery sectors,” he said.
Commenting on the deal, Dipan Dalal, managing partner at MK Ingredients, said: “We will benefit from Azelis’ specialty focus and connectivity with blue chip principals on a global level, whilst the new setup will offer a much wider product portfolio and knowhow to our customers. Furthermore, Azelis has a well-established operating platform and logistics expertise which will accelerate our service efficiency.”
This is the second acquisition for Azelis so far this year. In January it agreed to buy Euroconsultant, a Polish distributor of flavors, shelf-life extenders and other products for the food industry. The transaction is expected to close during this quarter.
Private equity investor EQT, through its VIII fund, acquired Azelis last November from previous owner Apax Partners.
