The takeover will enhance the position of Azelis in the Chinese personal care market
Representatives from Azelis and CosBond
Azelis, the speciality chemicals company, has inked a deal to acquire CosBond, a Chinese specialty chemicals distributor.
Specialising in personal care, CosBond is headquartered in Hong Kong and operates through offices and warehouses in Shanghai, Guangzhou and Beijing.
Laurent Nataf, CEO & President, Azelis Asia Pacific, said: “Azelis China has enjoyed a steady growth since its inception in 2013 and has grown to become one of the main international players in the Chinese distribution industry.
“We have a strong presence in the food and nutrition market, and we have been growing over past years in serving the personal care, homecare, agro and coatings industries.”
Through the acquisition, Azelis plans to extend its technical knowledge to CosBond’s customers.
Meanwhile CosBond hopes to realise growth synergies between itself and Azelis, and benefit from Azelis’ international infrastructure and focus on CSR.
Its Strategic Director Jerome Cheung added: “We have had a very strong commercial presence on the market and have built a significant customer base, but the strong formulation and application support that Azelis can offer will bring a lot of added value in our offering to the market.”