Azelis completes two acquisitions

By Jim Cornall

- Last updated on GMT

MK Ingredients acquisition, left to right, Mitesh Jobalia (MK), Dipan Dalal (MK), Aparna Khurana (Azelis), and Vinit Dalal (MK).
MK Ingredients acquisition, left to right, Mitesh Jobalia (MK), Dipan Dalal (MK), Aparna Khurana (Azelis), and Vinit Dalal (MK).

Related tags India Ingredients Belgium

Food ingredient and speciality chemicals company Azelis has completed two acquisitions recently, India’s MK Ingredients and Canadian company Chemroy.

The Belgian-headquartered company has acquired 100% of MK's distribution activities, and the acquisition brings improved product offering and customer reach to Azelis, enabling the company to grow its food and health business, a strategic focus area in India.

The Indian distributor is a family-owned company, whose employees and management will join Azelis. MK covers food applications such as dairy, confectionery and bakery. Non-food segments include paints and coatings as well as chemicals for industrial markets. Azelis will also take over MK’s food laboratory.

Laurent Nataf, CEO and president, Azelis Asia Pacific, said, “MK and Azelis India have a solid and highly compatible supplier mix and this acquisition will help increase the value Azelis can bring to our customers and principals. It will provide us with an improved product offering and customer reach, in particular within the food industry.

“MK Ingredients won an award for best APAC distributor in 2016 and for exceptional business growth in 2018. This clearly demonstrates the great partnerships they have with principals, a value which is shared by Azelis.”

Aparna Khurana, managing director, Azelis India, said, “In 2018, Azelis opened three application laboratories in India, servicing the personal care, food and CASE markets. Combining the Azelis food lab with MK’s modern and fully equipped food lab will complement our technical expertise, especially in the dairy and bakery sectors.”

Dipan Dalal, Managing Partner at MK Ingredients, concludes: “There is an excellent strategic fit and we are excited by the opportunity we now have for further growth in this market. We will benefit from Azelis’ speciality focus and connectivity with blue chip principals on a global level, whilst the new setup will offer a much wider product portfolio and know-how to our customers. Furthermore, Azelis has a well-established operating platform and logistics expertise which will accelerate our service efficiency.”

Chemroy takeover

Azelis has also announced the takeover of Chemroy, a Canadian distributor of specialty chemicals and food ingredients.

The transaction sees Azelis acquire 100% of Chemroy Canada Holdings Inc. Chemroy was founded in 1967 and has 59 employees. Headquartered in Brampton, Ontario, Chemroy has warehouses across Canada and has offices in Laval, Quebec, and Vancouver, British Columbia.

Frank Bergonzi, CEO and president Azelis Americas, said, "This transaction is an important milestone for Azelis in the Americas. Chemroy is a leading distributor of specialty chemicals and food ingredients in Canada, with an excellent reputation. We share similar values and culture, and this combination will ensure a more robust product portfolio to our customers."

John Graham, president at Chemroy, said, "We are confident in the success of this acquisition, which is an exciting opportunity for our employees to join forces with an established global player in Azelis. We share similar strategies and culture and I am confident that Chemroy will continue to thrive under its new ownership."

Azelis is active in more than 40 countries globally, with around 1,900 employees.



Related topics Markets Ingredients Emerging Markets