Azelis strengthens its position in the Chinese personal care market with the acquisition of Ingredients Plus China
13 August 2021
Azelis, a leading innovative service provider in the specialty chemicals and food ingredients industry, is delighted to announce that it has signed an agreement to acquire the Greater China operations of Ingredients Plus Pty. Ltd. (“Ingredients Plus China”) through the acquisition of 100% of the shares of Ingredients Plus Hong Kong and its fully owned subsidiaries in Shanghai and Guangzhou. This acquisition strengthens Azelis’ product portfolio, whilst also enhancing the position of Azelis China in the personal care industry.
Highlights & rationale
- Ingredients Plus China’s product portfolio further enhances Azelis’ lateral value chain and solidifies its reputation as a leader in the Chinese personal care industry.
- Azelis China established a strong footprint in the personal care market through the acquisitions of Cosbond and Bronson & Jacobs in 2020, which is now further strengthened with the acquisition of Ingredients Plus China.
- The transaction is consistent with Azelis' corporate strategy of complementing organic growth with strategic acquisitions
Ingredients Plus China employs over 40 people in Shanghai, Guangzhou and Hong Kong, where it serves a sizeable base of international, regional and indigenous local customers with an attractive portfolio of world-renowned principals. All employees will become part of Azelis and shall remain in their respective positions to support the business. With ideation & application laboratories in Shanghai and Guangzhou that focus on formulations development, Ingredients Plus China and Azelis are well-positioned to provide innovative solutions to all business partners.
The transaction is expected to close by end of August 2021.
Mr. Graeme Love, CEO Ingredients Plus, comments:
“We at Ingredients Plus China have over the years developed strong intimacy with our principals and customers by offering only the highest service quality. Joining Azelis in China will enable the business to grow further and have more resources available to serve principals and customers. With this announcement, I would also like to thank all our stakeholders for what has been achieved so far and wish the best of luck to Azelis – IP China in becoming the leading distributor of the personal care industry.”
Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, adds:
“Ingredients Plus China’s portfolio is highly complementary to ours and will boost the personal care range of Azelis China. The expansion of our lateral value chain in China, the second largest global economy and one of the fastest growing, is a key strategic objective for us. That is why we have continuously invested in our growth there. The acquisition will increase our market presence and overall product offering, while also continuing our diversification to provide a more comprehensive portfolio across market segments.”
Present in China since 2012, Azelis gained a leading position in the personal care market in China with the acquisitions of Cosbond and Bronson & Jacobs in 2020. Azelis’ award-winning laboratories in Asia Pacific, of which seven are dedicated to Personal Care, underscore its commitment to being an innovative partner to its customers and principals. The Personal Care team in China has been awarded the Ringier Technology Innovation Award in 2020 and 2019, as well as the PCHi 2019 Fountain Award, to name only a few. The awards truly showcase Azelis' expertise in providing innovative solutions for the personal care market and validates the recognition it has received.
The acquisition of Ingredients Plus China illustrates the support provided by EQT since the initial acquisition of Azelis. EQT is confident that the expanded range of services and global reach provided by this acquisition will continue to bring benefits to customers and principals of the combined group.