The deal comes just over a month after Azelis agreed to buy the distribution assets of Chemo India and Unipharm Laboratories.

Ashapura provides Azelis with a strong flavors & fragrances platform in Asia-Pacific, complementing acquisitions last year of Quimdis in France and Vigon in the US, serving Europe, Middle East & Africa and the Americas regions respectively. The Mumbai-headquartered company represents more than 225 principal suppliers and serves over 900 customers globally. It has more than 100 employees, all of whom will join Azelis, together with founders and owners Ajaykiran and Nayan Gudkin.

“As a leader in the flavor & fragrance industry, Ashapura’s comprehensive product portfolio of highly specialized products and ingredients is a great addition to our lateral value chain, enabling us to provide further innovative solutions to stakeholders in an industry with high potential for future growth,” said Azelis Asia Pacific’s CEO & president Laurent Nataf.

Financial terms of the transaction, which is expected to close before the end of the third quarter, were not disclosed.

Author: Elaine Burridge, Freelance Journalist