July 14 2021, David R Brown
Azelis strengthens South Korean presence through the acquisition of Coseal
Azelis has announced that it has agreed to acquire 100% of the shares in Coseal in South Korea. Coseal is renowned for its specialist distribution, repackaging and blending of agricultural/horticultural surfactants. The acquisition of Coseal will further drive Azelis' growth in these market segments across Asia Pacific.
Azelis in South Korea has been largely focused on personal care, so we're very excited to enter the agricultural/horticultural market with such a reputable partner by our sideLaurent Nataf
CEO & President of Azelis Asia Pacific
This new partnership diversifies and strengthens Azelis' position in the attractive agricultural/horticultural segment in South Korea
Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, commented: “Like Azelis, Coseal has strong technical expertise and strives to continually provide tailor-made formulations to customers. This has been critical in building Coseal's long-lasting and collaborative relationships. Azelis in South Korea has been largely focused on personal care, so we're very excited to enter the agricultural/horticultural market with such a reputable partner by our side.”
Established in 1973 and headquartered in Seoul, Coseal is owned by Mr. Sang Jin Kang and family. Mr. Kang and Coseal's 45 employees will be integrated into the Azelis team.
Kang Sang Jin, CEO of Coseal, added: “We are delighted to be partnering with Azelis. With almost 50 years of experience operating in South Korea, our joint focus on sales excellence and innovation-driven services brings new and exciting opportunities. There is huge potential to gain new business in South Korea with Coseal's expertise of the sector and Azelis’ existing global principal network and international agricultural/horticultural customer base.”
This transaction is expected to close in the third quarter of 2021.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the globe with around 2,200 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 €2.22 billion in 2020.
Throughout our extensive network of more than 60 application laboratories, our award-winning technical staff help customers develop formulations. We combine a global reach with a local focus to offer a reliable, integrated service to local customers and attractive business opportunities to principals. And we believe in building and nurturing solid, honest and transparent relationships with our people and partners.
Source(s): Azelis Press Release