Azelis has agreed to acquire majority shares of India’s Ashapura Aromas, a distributor of flavours and fragrances.
The specialty chemicals company said the move would provide it with a strong flavours and fragrances (F&F) platform in Asia Pacific.
Mumbai-headquartered Ashapura was founded in 2003 and represents more than 225 principals, serving more than 900 customers globally.
Its 100-plus employees will join Azelis, along with founders and owners Ajaykiran and Nayan Gudka.
The Ashapura acquisition follows Azelis’ 2021 acquisitions of ingredients supplier Vigon in the US and raw materials distributor Quimdis in France.
“Acquiring a majority stake in Ashapura is an important element of our global growth strategy that completes our F&F offering across all regions following the group’s acquisitions of Vigon and Quimdis, and allows us to become a market leader in the F&F industry with Ashapura as the cornerstone of our F&F platform in Asia Pacific,” said Hans Joachim Müller, Azelis’ Chief Executive Officer.
“Azelis will give us the opportunity to further grow our business to other countries not only in Asia Pacific but globally,” Ajaykiran Gudka, Managing Director of Ashapura, added.
“Ashapura will be able to enhance the product offering to customers in India. Suppliers of Ashapura shall benefit with more synchronised supplies of products globally.
“Ashapura’s internal stakeholders and support systems shall get the advantage of exposure to global practices.”
The company’s Business Director, Nayan Gudka, further commented: “Partnership with a leading global innovation service provider like Azelis will help Ashapura in serving its business partners with more products and fortify the management of the new normal world of VUCA [volatility, uncertainty, complexity, and ambiguity].
“Ashapura has always put best efforts to serve all its business partners and with the new alliance with Azelis, we are confident to provide better services to our existing business partners by offering new products and aligning to global practices.”