Speciality chemicals distributor and service provider Azelis has signed an agreement to acquire the Greater China operations of Ingredients Plus via the acquisition of 100% of the shares of Ingredients Plus Hong Hong and its fully owned subsidiaries in Shanghai and Guangzhou.
Ingredients Plus China’s product portfolio is claimed to further enhance Azelis’ lateral value chain and solidify its position in the Chinese personal care industry.
Azelis China already had a strong footprint in the market in China through the 2020 acquisitions of Cosbond and Bronson & Jacobs in 2020.
Graeme Love, CEO of Ingredients Plus, said: “Joining Azelis in China will enable the business to grow further and have more resources available to serve principals and customers.
“With this announcement, I would also like to thank all our stakeholders for what has been achieved so far and wish the best of luck to Azelis – IP China in becoming the leading distributor of the personal care industry.”
“The acquisition will increase our market presence and overall product offering, while also continuing our diversification to provide a more comprehensive portfolio across market segments,” added Laurent Nataf, CEO and President of Azelis Asia Pacific.