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
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
German Distribution Group adds new Location in Scandinavia
Chemicals distributor OQEMA AG (Mönchengladbach, Germany) has announced the acquisition of Chemark ApS (Tureby, Denmark) for an undisclosed sum. The company mostly distributes Solvents for the Paints & Coatings, Pharmaceuticals, Surfactants and Cleaning Industries (Home Care and I & I) and achieves a turnover of ca. EUR 40 mn.
Anders Englund and Peter Nielsen, who have been managing the company for the last 12 years, will continue to lead the business under the new ownership, OQEMA said in the statement.
No financial details were disclosed on the transaction.
Source: OQEMA press release
HGE – DCG / 03.02.2020