April 2 2020, David R Brown
Azelis strengthens its position on the Chinese personal care market with the acquisition of CosBond
Azelis has announced that it acquired 100% of the share capital of CosBond, a Chinese specialty chemicals and food ingredients distributor. Headquartered in Hong Kong, the company has offices and warehouses in Hong Kong, Shanghai, Guangzhou and Beijing. It represents over 30 renowned global principals, predominantly in personal care industry. The deal is expected to be completed within the next three months.
Azelis China has enjoyed a steady growth since its inception in 2013 and has grown to become one of the main international players in the Chinese distribution industryLaurent Nataf
CEO & President, Azelis Asia Pacific
The acquisition of CosBond will enhance the position of Azelis in the fast-growing, Chinese personal care market and will further increase its customer intimacy with global and regional market leaders.
CosBond was established in 2008 and over time has built a strong market position in the personal care market as well as the flavor & fragrance, food & nutrition and fine chemical industries. The company serves more than 500 customers, ranging from major multinationals to smaller local producers, all seeking specialty products that bring added value to their brand.
Laurent Nataf, CEO & President, Azelis Asia Pacific, commented: “Azelis China has enjoyed a steady growth since its inception in 2013 and has grown to become one of the main international players in the Chinese distribution industry. We have a strong presence in the food and nutrition market and we have been growing over past years in serving the personal care, homecare, agro and coatings industries. We run five application laboratories in Shanghai, including one for personal care which has had noteworthy achievements; it has won no less than 11 innovation awards in the last five years, all given by independent industry bodies. We are very excited to be able to now extend this vast technical knowledge to CosBond's principals and customers. ”
Jackson Chu, Managing Director Azelis China, adeded: “China has a large and fast-growing personal care market, so now is the right moment to enhance our service offering. The combination of CosBond's extended customer base, our joint good market knowledge and strong technical and formulation capabilities of Azelis Personal Care team will result in a more comprehensive specialty offering in China. In addition, we are confident this acquisition will bring ample cross-selling opportunities as well as prospects to expand the business with our existing long-standing and trusted partners.”
All the employees of CosBond will become part of the Azelis team in China.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 40 countries across the globe with around 2,000 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 about 40,000 customers, creating a turnover of €1.94 billion (2018). In the US we operate under a number of renowned co-brands in the personal care market segment.
Source(s): Azelis Press Release