Azelis Enters Latin America with Megafarma
Azelis is entering the Latin American market following an agreement to buy Megafarma, a Mexican specialty distributor for the pharma, food and veterinary industries. Financial terms of the deal, which is expected to close within the next month, were not disclosed.
Headquartered in Mexico City, the company also has a presence in Guadalajara and Monterrey.
Azelis said the integration of the Mexican distributor, which Frank Bergonzi, CEO and president of Azelis Americas, said has shown double-digit sales growth for the period 2016 to 2018, will provide access to a promising market and create a strong platform for growth in the global specialty chemicals and food ingredients
As the most populous country in the Americas after the US and Brazil and with a large specialty chemicals market, Mexico is an excellent entry point into the Spanish-speaking part of America, where Azelis has not been present up to now, said Hans Joachim Müller. president and CEO of the Belgian distribution giant.
“Local presence in Mexico will allow us to add new mandates of food and pharma principals we already work with within other geographies. The combined product and principal portfolio and geographic spread will allow us to accelerate our growth strategy and solidify our position as a preferred partner in the specialty chemicals business,” Müller added.
The acquisition is the sixth that Azelis has made this year. In October, the distributor agreed to buy Turkey’s Ekin Kimya, which followed other deals in Lebanon, Canada, India and Poland.
