Azelis, a fully integrated and innovative solutions provider in the specialty chemicals and food ingredients industry, has announced acquisition of 100% shares of the Eurotrading S.p.A, a leading specialty chemicals distributor for the personal care market in Italy.
Notably, this acquisition strengthens Azelis’ footprint in the expanding Italian personal care market and the thriving life sciences segment.
Meanwhile, the extensive product portfolio offered by Eurotrading in actives, emollients and emulsifiers enhances the Group’s lateral value chain further, strengthening its market leadership in the local personal care industry.
Speaking on the latest development, Marco Nicolato, CEO of Eurotrading, commented that the firm is delighted to collaborate with the team of Azelis as it will offer new and synergistic opportunities in the near future.
It was added that being a part of an international and larger organization will offer huge development to the Eurotrading team, customers, and principals.
The well-known reputation of Azelis in sustainability, with the rating of EcoVadis Platinum and 1st place in the Sustainability ranking will also benefit the firm as these are crucial to the principals and customers in the personal care business.
Marco further stated the firm is looking forward to combining their strengths and creating a stronger business, unitedly.
More than 30 technical employees from Eurotrading, including senior management with years of experience, will join Azelis and continue to help the company during and after integration.
For the record, the transaction is anticipated to be completed in the Q4 of this year after the completion of customary closing conditions.
Eurotrading, founded in 1996, has become one of the leading distributors of personal care raw materials (skincare, fragrances, sun care, and hair care), with a strong foothold in product portfolio considering the global and regional principles.
It offers innovative formulations to around 500 customers, benefitting from an application laboratory near Padova, northeast of the country.