Azelis Closes Koda Acquisition
Azelis completed its acquisition of US-based Koda Distribution Group (KDG) on Dec. 17 following clearance from the regulatory authorities. The deal was announced in mid-October this year.
KDG is now Azelis Americas, led by CEO and President Frank Bergonzi, the former CEO of KDG. The company will continue to operate in the US and Canada using its existing business model and local brands.
Azelis CEO Dr Hans-Joachim Mueller explained that the primary reason behind KDG’s acquisition was the revenue synergies that exist between the two companies which Azelis intends to exploit. “Going forward we will be focusing on generating fast-paced organic growth by extending our offering to the specific markets we serve. Moreover, we also will selectively pursue acquisition opportunities to complement our portfolio,” Mueller said.
