Azelis Makes Another Move in Turkey
Azelis has agreed to buy Turkish specialty chemicals distributor Dağalti Kauçuk San, marking its third acquisition in the country so far this year.
The Istanbul-based firm is especially active in the Turkish rubber and plastics additives market.
Dağalti’s CEO Sadik Dağalti will continue leading the business, which numbers 14 employees and supports more than 400 customers. Azelis’ focus on innovation, sustainability and digitalization will trigger additional growth impulses at Dağalti, he commented. “We see many synergistic opportunities.”
The transaction is expected to close at the end of the third quarter, subject to the usual conditions. Financial terms were not disclosed.
In June, Azelis agreed to buy the specialty lubricant distribution assets of Aktaş, and that transaction was due to close this quarter. In February it signed the purchase of Tunçkaya, a food ingredients and additives distributor.
Author: Elaine Burridge, Freelance Journalist
