An important element of Azelis’ global growth strategy
Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, has reached an agreement to acquire a majority stake in Ashapura Aromas, a Mumbai-based distributor of ingredients in the flavours & fragrances (F&F) market in India.
This acquisition provides Azelis with a strong F&F platform in Asia Pacific, creating a global F&F network, following its 2021 acquisitions of Vigon in the US and Quimdis in France, serving the Americas and EMEA regions respectively. Ashapura’s extensive product portfolio strategically complements the group’s lateral value chain (LVC) in the fast-growing F&F market segment, strengthening the offering and technical expertise Azelis provides to customers.
Ashapura’s 100 plus employees will join Azelis, along with founders and owners Ajaykiran and Nayan Gudka, who will remain to lead the business post-integration. The transaction is expected to close before the end of the third quarter, after fulfilment of customary closing conditions.
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