Azelis with another Acquistion to enhance Industry Coverage in Turkey
Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has announced that it has signed an agreement with Ak-taş Dış Ticaret A.Ş. (“Aktaş”) and individual shareholders to acquire 100% shares of Ekin Kimya (Istanbul, Turkey), a Turkish specialty chemicals distributor for pharmaceutical chemicals, food ingredients and lab chemicals.
Ekin Kimya was founded in 1995 by Dr. Murat Çıtıroğlu. He owns the company, together with Dr. Ekrem Ekinci and Aktaş, a distributor and trader of bulk petrochemicals. The company employs over 70 talented people, who are experts in their fields, Azelis said in the statement.
According to the announcement, Azelis and Ekin Kimya share a strong focus on specialty service offerings and technical expertise. In addition to Azelis’ three laboratories in Turkey (for Personal Care, Homecare and Food), Ekin Kimya will be bringing a modern Pharmaceutical Laboratory to the new set-up. The expectation is that this will provide more added value services to Azelis’ existing customer base and it will also help to further grow the business and emphasize the specialty positioning.
No financial information was disclosed on the transaction.
Source: Azelis press release
HGE – DCG / 16.10.2019