Azelis spritzes up global flavors & fragrances portfolio with Ashapura Aromas acquisition
27 Jun 2022 --- Global specialty chemical and ingredients provider Azelis has signed an agreement to acquire Ashapura Aromas, a distributor of ingredients in flavors & fragrances in India strengthening its portfolio in Asia Pacific. The financial details of the deal have not been disclosed.
Ashapura’s product portfolio strategically complements Azelis’ lateral value chain (LVC) in the fast-growing F&F market segment and improves its technical expertise. Headquartered in Mumbai, Ashapura distributes F&F ingredients to more than 900 customers globally.
“Acquiring a majority stake in Ashapura is an important element of our global growth strategy that completes our F&F offering across all regions following the group’s acquisitions of Vigon (US) and Quimdis (France),” says Dr. Hans Joachim Müller, CEO.
Expanding international presence
Azelis already has a strong presence in the regions of North and South America, Europe, Middle East and Africa (EMEA).
The transaction is expected to close before the end of the third quarter of 2022, after fulfillment of customary closing conditions.
“Azelis will give us the opportunity to further grow our business to other countries not only in Asia Pacific but globally. Ashapura will be able to enhance the product offering to customers in India,” says Ajaykiran Gudka, founder and managing director, Ashapura.
The acquisition will close by the third quarter of 2022.
According to Ashapura Aromas, suppliers and internal stakeholders will benefit from more synchronized supplies of products globally.
Getting the financials in order
Lincoln International, Quillon Partners and Cedge Ventures Private Limited acted as investment, legal, financial, and tax advisors for Ashapura and its promoters in relation to the transaction. Meanwhile, Trilegal and KPMG acted as legal, financial, and tax advisors for Azelis.
“Ashapura’s comprehensive product portfolio of specialized products and ingredients is a good addition to our lateral value chain, enabling us to provide further innovative solutions to stakeholders in an industry with high potential for future growth,” says Laurent Nataf, chief executive officer & president, Azelis Asia Pacific.
Tate & Lyle recently expanded its partnership with Azelis in Europe into three new countries, Greece, Bulgaria and the Republic of North Macedonia.
The company also increased its scope of its distribution agreement with Roquette for its food product range in China. The move strengthened its lateral value chain and expanded its presence in the food and health market segment across the Asia Pacific region.
CP Kelco also expanded its distribution relationship with Azelis in the EMEA region. The new distribution scope names Azelis as the exclusive distribution partner of CP Kelco across numerous countries and market segments, strengthening their global partnership.
Azelis acquired a significant stake in personal and home care chemical company Catalite, based in Thailand. The company also identified growth potential within the Chinese personal care market, after expanding its reach in the region with the acquisition of Ingredients Plus China.
