Azelis is acquiring the Greater China operations of Ingredients Plus Pty. Ltd. (“Ingredients Plus China”) through the acquisition of 100% of the shares of Ingredients Plus Hong Kong and its fully owned subsidiaries in Shanghai and Guangzhou. The transaction is expected to close by the end of August 2021.
Ingredients Plus China’s product portfolio will boost Azelis’ position in the Chinese personal care industry, adding to Azelis China's footprint in the personal care market following the acquisitions of Cosbond and Bronson & Jacobs in 2020.
Laurent Nataf, CEO and president of Azelis Asia Pacific, said: “Ingredients Plus China’s portfolio is highly complementary to ours and will boost the personal care range of Azelis China. The expansion of our lateral value chain in China, the second largest global economy and one of the fastest growing, is a key strategic objective for us. That is why we have continuously invested in our growth there. 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.”
Graeme Love, CEO Ingredients Plus, said: “We at Ingredients Plus China have over the years developed strong intimacy with our principals and customers by offering only the highest service quality. 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.”
