Azelis to acquire KODA Distribution Group in a major Transatlantic Move
Specialty chemicals distributor Azelis Group [“Azelis”] (Antwerp, Belgium) announced that it will acquire KODA Distribution Group [“KDG”] (Stamford, CT – United States of America).
Azelis said that KDG will see a change of its name to Azelis Americas. It continues to be led by Frank Bergonzi, CEO and President of KDG, who will assume the role as CEO and President of Azelis Americas. He will also become a member of the Azelis Board of Directors.
Azelis plans a continued operation in the USA and Canada, using the existing business model and go-to-market strategy. The unit will maintain its regional brands and specialty chemicals sales to customers via what it calls “industry verticals”, and through dedicated experts.
The transaction is subject to regulatory approvals and is expected to be finalised by the end of 2015. No financial details were disclosed.
Source: Azelis website
HGE – DCG / 19.10.2015