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Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, has signed an agreement to acquire 100% of the shares of Gillco Ingredients, a leading specialty ingredient provider in the food & nutrition market in the USA.
The acquisition represents a strategic expansion into the attractive food & nutrition market in the US, reinforcing Azelis’ footprint in the life sciences. In addition to the group’s flavours & fragrances offering, Gillco allows Azelis to create a compelling portfolio and execute its growth strategy in the US food and nutrition industry, as well as the wider life sciences in North America.
Founded in 1982, Gillco has developed long-standing relationships with global blue-chip suppliers, a diverse portfolio of specialty ingredients and applications, and strong market expertise across most segments of the food industry, including bakery, culinary, beverage, dairy and nutraceutical markets. The company has 40 highly skilled and experienced employees serving almost 1,000 customers from its headquarters in San Marcos, California. All of Gillco’s staff are expected to transition to Azelis, including the owner, Bill Gillies, who will remain with the company to ensure a seamless transition.
The transaction is expected to close in the second quarter of 2023, after the fulfilment of customary closing conditions.
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