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May 16 2023, David R Brown

Azelis strengthens its footprint in life sciences with the acquisition of Gillco Ingredients in the USA

Azelis, a leading global distributor of specialty chemicals and food ingredients industry, has signed an agreement to acquire 100% of the shares of Gillco Ingredients ("Gillco"), a leading supplier of specialty ingredients to the food & nutrition market in the USA.

Gillco, with its national reach, established market position and long-standing relationships with several blue-chip principals will give us a significant foothold in the US food market, a strategic priority for Azelis Americas

Frank Bergonzi
CEO of Azelis Americas

The acquisition represents a strategic expansion into the attractive food & nutrition market in the US, reinforcing Azelis' footprint in the life sciences. As well as adding to the group's flavors & fragrances offering, Gillco allows Azelis to create a more compelling portfolio and execute its growth strategy in the US food and nutrition industry, as well as the wider life sciences in North America.

Founded in 1982, Gillco has developed long-standing relationships with global blue-chip suppliers, a diverse portfolio of specialty ingredients and applications, and strong market expertise across most segments of the food industry, including bakery, culinary, beverage, dairy and nutraceutical markets. The company has 40 highly skilled and experienced employees serving almost 1,000 customers from its headquarters in San Marcos, California. All of Gillco's staff are expected to transition to Azelis, including the owner, Bill Gillies, who will remain with the company to ensure a seamless transition.

Dr. Hans Joachim Müller, Azelis Chief Executive Officer, commented: &ldquo'In line with our strategic vision to be the preeminent innovation service provider in all territories where we operate, we are happy to welcome Gillco to the Azelis family. This acquisition strengthens our lateral value chain for the food and nutrition market, as well as the broader life sciences segment in the US, and allows us to offer a truly compelling proposition to both principals and customers.”

Bill Gillies, owner of Gillco Ingredients, remarked:&ldquo'Gillco looks forward to continuing its legacy of thoughtful growth and collaboration with customers through our team of experienced and dedicated employees, and long-term relationships with our key suppliers and customers. Becoming part of Azelis, a global market leader, is a new milestone in our company's evolution.”

The transaction is expected to close in the second quarter of 2023, after the fulfilment of customary closing conditions.

About Azelis
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 67 countries across the globe with over 3,800 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 59,000 customers, supported by ~2,700 principal relationships, creating a turnover of €4.1 billion (2022). Azelis Group NV is listed on Euronext Brussels under ticker AZE.

Source(s): Azelis Press Release

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