Azelis to acquire Chemcolour to expand in Australia and New Zealand
Azelis has agreed to acquire Chemcolour, a provider of speciality chemicals and food ingredients in Australia and New Zealand (ANZ).
Financial details of the deal have not been disclosed. The transaction is expected to close in next few months.
The acquisition is expected to strengthen Azelis’ position in the ANZ markets.
Chemcolour has seen steady growth and has built a portfolio of globally established suppliers in the speciality chemicals and food ingredients segments over recent years.
Azelis CEO Hans Joachim Müller said: “Australia and New Zealand are wealthy countries with a growing population and rich in natural resources.
“The fact that the fundamentals of the countries positively contribute to the strength of Chemcolour’s business, makes this acquisition a great platform to extend mandates with our existing, global principals into Australia and New Zealand.”
Upon completion of the transaction, Chemcolour’s employees will become part of Azelis' workforce.
Chemcolour CEO Murray Nancekivell said: “Chemcolour has positioned itself well in the New Zealand and Australian markets and the time is right to continue this growth.
“The acquisition of Chemcolour by Azelis puts us in an even stronger position in the market to better serve our customers and principals. This, coupled with the strongly aligned Azelis and Chemcolour values, provides excellent opportunities for our employees going forward.”
This acquisition has gained endorsement from the funds advised by Apax Partners, which has been a major shareholder in Azelis since 2015.