Both companies are active in the personal care, industrial chemicals, agrochemicals and food segments as well as supply chain services. They have offices in Hanoi and Ho Chi Minh City, serving 700 customers.

“Growth in Asia-Pacific has been one of the strategic priorities for Azelis. By strengthening our presence in Vietnam, we will gain better coverage in the entire region which is key for us to attract new mandates with our existing principals,” said Azelis Asia Pacific CEO and president Laurent Nataf, who added that the companies have highly complementary business models, which will help Azelis significantly diversify its product portfolio.

Kamal Hezry Kassim, managing director of MKVN and Viet Chemicals, will continue to manage the businesses, reporting to Nataf.

Vietnam is the 15^th most populated country in the world with a very young workforce, increasing purchasing power and growing access to premium products, according to Azelis. The country has set a target of 6% growth in GDP this year, up from the estimated 2.9% in 2020.  Vietnam’s processing and manufacturing industries are the driving force behind its economic growth.

Last month, Azelis said it had entered into an agreement to buy Australia’s CW Pacific, a company specializing in the distribution of food ingredients for the bakery and meat segments, as well as specialty chemicals for the horticulture segment.

Author: Elaine Burridge, Freelance Journalist