Specialties Distribution Group makes further Acquisition in South Korea
Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has announced that it has signed an agreement to acquire100% of the shares of COSEAL Co. Ltd. (Seoul, South Korea) for an undisclosed sum in an add-on acquisition. The company is a specialist for the distribution, repackaging and blending of Agricultural & Horticultural Surfactants, with long-established customer relationships and a strong technical expertise. Azelis expects that the acquisition of Coseal will drive the groups’ continued growth in this market segment, across the whole Asia-Pacific region.
Established in 1973, the company is owned by Sang Jin Kang and family. Mr. Kang and Coseal’s 45 employees will be integrated into the Azelis team, the announcement said.
Azelis has made its first acquistion in Korea in 2018, entering the Personal Care sector at the time. Earlier this year it acquired a distribution company serving the Food sector.
No financial information was disclosed on the transaction, which is expected to be completed during Q3-2021
Source: Azelis press release
HGE – DCG / 16.07.2021