Azelis Buys Lebanon-based Orkila
Azelis has signed an agreement to acquire Orkila, a leading specialty chemicals and food ingredients distributor operating in Africa and the Middle East.
Financial terms of the transaction, which is expected to close in the next four months, were not disclosed.
Antoine Sacy, Orkila’s founder, chairman and CEO, commented: “After almost 15 years spent developing our regional network on a stand-alone basis, it is time for us to move on to the next stage in our evolution. Joining a well-established global player such as Azelis will enable us not only to continue to deliver the high quality products and services to which our customers are accustomed, but also to access new growth opportunities.”
Headquartered in Beirut, Lebanon, Orkila is present in 13 countries and active in more than 30 countries in the region, serving several thousand customers that range from major multinationals to smaller, local producers. It sells into multiple market segments, including pharmaceuticals, food, agrochemicals, animal nutrition, personal care, paints, construction, oilfield, plastic additives, home care and water treatment.
Azelis said, like itself, Orkila is very focused on promoting specialty service offerings and has an application laboratory in Egypt that serves both food and personal care customers.
Africa has been seeing economic acceleration, a growing middle class and an improved business environment, said Azelis, all of which provides an opportunity for the distributor and its principal suppliers to boost their growth in the region.
“We know that many of our principals are currently looking into strengthening their activities in Africa. Combining the strength of a leading regional specialty distributor with the strength of Azelis will result in an excellent and unique platform for organic growth,” said Hans Joachim Müller, CEO and president of Azelis.
The specialty chemicals distribution market in Africa and the Middle East is one of the fastest growing in the world while blue chip raw material producers are looking for a sizeable distributor in the region, Azelis added.
Orkila has more than 220 employees, who will all join Azelis on completion of the deal.
