February 8 2022, David R Brown
Azelis reinforces its footprint in EMEA Food & Health market with the acquisition of Tunçkaya in Turkey
Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces the signing of the acquisition of 100% of the shares of Tunçkaya Kimyevi Maddeler Tic. Ltd., a prominent distributor of food ingredients and additives in Turkey.
Turkey is a fast growing region, and an increasingly important market in the food segment, so we're delighted to grow together with Tunçkaya
Sertaç Sürür
Managing Director Azelis Turkey
This acquisition further strengthens Azelis' position in the fast-growing and attractive Turkish market for food, as well as in the broader life sciences market. Tunçkaya's portfolio of products complements the Group's lateral value chain for the domestic market, thereby further expanding its expertise and product offering to customers.
Founded by the late Zülfikar Tunç, Tunçkaya has grown to become a leading provider of ingredients and additives, as well as a range of blended products for various segments of the food market, supported by longstanding relationships with principals. Tunçkaya employs 25 people from its headquarters in Istanbul and serves over 500 customers.
Sertaç Sürür, Managing Director Azelis Turkey, commented: “We're very happy to bring Tunçkaya into the Azelis family. Their strong relationships in the food market and general market position is a fantastic addition for our lateral value chain and complements the organic growth of Azelis. Turkey is a fast growing region, and an increasingly important market in the food segment, so we're delighted to grow together with Tunçkaya. We look forward to combining our talents, and leveraging our combined capabilities and expertise for our customers and principals in Turkey and across the wider EMEA region.”
The transaction is expected to close in the first quarter of 2022, after fulfilment of customary closing conditions.
About Azelis
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the globe with around 2,800 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 more than 45,000 customers, supported by ~2,200 principal relationships, creating a turnover of €2.22 billion (2020).
Across 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. EcoVadis Platinum rated, Azelis is a leader in sustainability. We believe in building and nurturing solid, honest and transparent relationships with our people and partners.
Source(s): Azelis Press Release
Further Information
Visit: https://www.azelis.com