TURKEY – Global service provider in the specialty chemicals and food ingredients industry Azelis has acquired Turkish distributor of food ingredients and additives Tunçkaya.
Azelis said the acquisition further strengthens its position in the fast-growing and attractive Turkish market for food, as well as in the broader life sciences market.
Founded by the late Zülfikar Tunç, Tunçkaya has grown to become a leading provider of ingredients and additives, as well as a range of blended products for various segments of the food market.
The company which employs 25 people and has a customer base of over 500 is active in food and beverages, with divisions in dairy, bakery and others.
For the dairy sector, its products include melting salts and phosphates, texturizing agents, milk proteins and functional products for yogurts, ice cream and creams, preservatives, lactose, acidity regulators, antioxidants and colors.
According to Azelis, Tunçkaya’s portfolio of products complements the Group’s lateral value chain for the domestic market, thereby further expanding its expertise and product offering to customers.
Sertaç Sürür, managing director of Azelis Turkey, said, “We’re very happy to bring Tunçkaya into the Azelis family. Their strong relationships in the food market and general market position is a fantastic addition for our lateral value chain and complements the organic growth of Azelis.
Sürür express his delight to work with Tunçkaya at a time when Turkey is becoming an increasingly important market in the food segment,
“We look forward to combining our talents and leveraging our combined capabilities and expertise for our customers and principals in Turkey and across the wider EMEA region.”
The transaction is expected to close in the first quarter of 2022, after customary closing conditions are fulfilled.
Last year, Azelis, completed the acquisition of Quimdis, a French distributor of ingredients for food, nutraceuticals, flavors & fragrances, animal nutrition, personal care and pharma.
Quimdis was founded in 1988 by Jean-François Quarré, Michel Manalt and Claire Couratier and specializes in ingredients distribution and formulation development, in the French market and with sales to more than 45 countries
Azelis said the transaction boosts its lateral value chain by diversifying and expanding its presence in France and EMEA, as well as providing Azelis in EMEA with a foothold in the growing noncyclical markets of flavors and fragrances, synergistic opportunities in animal nutrition, and expanding its offering in nutraceuticals.
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