Specialties Distribution Group to grow further in South Korea by Add-on Acquisition
Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has announced that it has acquired MH Co., Ltd. (Seoul, South Korea), a distributor of Food Additives & Ingredients for an undisclosed sum.
According to the announcement, this acquisition is helping Azelis in broadening “its offering in the highly attractive and expanding innovative food market of South Korea, with its 51 mn inhabitants and a high GDP per capita”. Azelis has made its first acquistion in Korea in 2018, entering the Personal Care sector at the time.
Established in 2005, the company disrributes Food Ingredients such as Gluten, Starches, Sweeteners, and Functional Food Additives. MH is a family-owned business, controlled by Maeng Moon-Ho, who will remain with the company and support the integration of MH into Azelis.
No financial information was disclosed on the transaction.
Source: Azelis press release
HGE – DCG / 05.07.2021