Specialties Distribution Group Azelis strengthens its Position in the Personal Care Market in China
Specialty chemicals and food ingredients distributor Azelis S.A. (Munsbach, Luxembourg) has announced that it has signed an agreement to acquire the Greater China operations of Ingredients Plus Pty. Ltd. (Rydalmere (Sydney), NSW – Australia), a distributor of ingredients for the Personal Care industry.
The transaction comprises 100% of the shares of Ingredients Plus Hong Kong and the fully owned subsidiaries in Shanghai and Guangzhou, where in total over 40 people are employed. All employees will become part of the Azelis team, remaining in their respective position to support the business, Azelis said in the announcement.
No financial information was disclosed on the transaction, which is expected to be completed by end of August, according to the Azelis press release.
Source: Azelis press release
HGE – DCG / 16.08.2021