May 14 2018, David R Brown
Azelis expands into South Korea with the acquisition of SammiChem Co
Azelis has signed an agreement to acquire a 100% ownership of SammiChem Co, a distributor of personal care ingredients in South Korea. The company, which specialises in cosmetics, is located in Seoul and employs 17 employees, who will all be joining the Azelis team. Through the acquisition, Azelis establishes its presence in South Korea and is now active in 12 countries across Asia Pacific region.
We found an excellent strategic fit with Sammi and we are now very excited to start growing our business hereDr. Hans Joachim Müller
CEO of Azelis
Dr. Hans Joachim Müller, Azelis CEO, comments on the deal: “South Korea is a technologically advanced country with highly skilled, affluent middle class. A large part of the Asia Pacific personal care market is located in South Korea, making it a very attractive country, both in terms of size and product quality. South Korea is known for its product innovation and affordable high quality brands which are increasingly popular around the world. As we have been building a very strong technical expertise in life sciences in Asia Pacific, personal care in particular, this all makes South Korea very attractive for us. We found an excellent strategic fit with Sammi and we are now very excited to start growing our business here. ”
Laurent Nataf, CEO and President Azelis Asia Pacific, added: “South Korea, with its population of more than 50 million inhabitants and prime quality personal care products, will allow us to create a solid platform for the region, enabling us to further grow with our existing, global principals. Sammi has built a good customer base and valuable principal relationships. Its laboratory is well equipped for providing innovative solutions to the trend-setting South Korean personal care market and we are very excited to be part of this global driving force now. We believe that the synergies with our international structure and our own partnerships will be a valuable contribution to the local market.”
Azelis see Sammi’s skilled technical staff and well-equipped laboratory as being complementary to their focus on high quality application and formulation solutions to customers. Azelis Personal Care won the 2018 Cosmetics Fountain Innovation Award at PCHi exhibition (China) for the fourth consecutive year, as well as four industry innovation awards in 2017, including the Product Innovation Award at Ringier Technology Innovation Awards (China).
The transaction is expected to close in the course of the next three months.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 40 countries across the globe with around 1,800 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. We offer a lateral value chain of complementary products to over 40,000 customers, creating a turnover of €1.8 billion. In the US Azelis' operates under a number of renowned co-brands that cater to the various markets in the region.
Source(s): Azelis Press Release