MEXICO – Global food ingredients supplier, Azelis has signed an agreement to acquire Megafarma, a Mexican specialty distributor for food, pharma as well as veterinary industries.
According to Azelis the integration of Megafarma will provide the company with access to a “promising market” while creating a strong platform for growth in the global specialty chemicals and food ingredients distribution business.
Megafarma also has presence in Guadalajara and Monterrey.
Commmenting on the deal, Hans Joachim Müller, Azelis Chief Executive Officer & President, said:
“Being the most populous country in the Americas after the United States and Brazil and with a large specialty chemicals market, Mexico is an excellent entry point into the Spanish speaking part of America, where Azelis was not yet present.
“Local presence in Mexico will allow us to add new mandates of food and pharma principals we already work within other geographies.
“The combined product and principal portfolio and geographic spread will allow us to accelerate our growth strategy and solidify our position as a preferred partner in the specialty chemicals business.”
Martin Hernandez, Megafarma General Director, added: “Joining Azelis means becoming part of a growing international group, which is a milestone in our company’s development.
“We share similar strategies and culture and I am confident that Megafarma will continue to thrive under its new ownership.
“Our people look forward to joining forces with their Azelis colleagues and building a unique product and principal portfolio to benefit our customers and employees.”
The transaction is expected to be completed in January 2020.
In March this year, Azelis acquired distribution activities of MK Ingredients & Specialties and SSD Industries to strengthen its position in the Indian food segment.
The company has also expanded its distribution agreement with CP Kelco to serve the food and beverage industry in the Nordic region for customers in Denmark, Sweden, Norway, Finland, Iceland, and the Faroe Islands.