Financial terms were not disclosed.

The acquisition, expected to close before the end of quarter one 2023, when Chemiplas’ management team and employees will transfer to the new owner, significantly expands Azelis’ footprint and accelerates its growth in Asia Pacific, the company said.

Chemiplas, which employs more than 100 staff, has long-standing partnerships with more than 200 global, regional and local principal suppliers, serving more than 1,900 customers from its headquarters in Auckland and six other offices across New Zealand and Australia. The company also has two food application laboratories, located in Auckland and Melbourne.

Azelis CEO Hans Joachim Müller commented: “This acquisition is another illustration of our strong commitment to continued growth in the Asia Pacific region, and is an important milestone in our strategic vision of becoming a market leader in Australia and New Zealand. The acquisition of Chemiplas provides Azelis with a broader, more comprehensive lateral value chain, an experienced team with a shared vision, and a stronger regional presence across key market segments.”

In December 2020, Azelis agreed to buy CW Pacific in Australia, boosting its footprint in the country’s food ingredients and horticulture segments, as well as in New Zealand, Papua New Guinea and other Pacific Islands.

Author: Elaine Burridge, Freelance Journalist