Azelis acquire specialty chemicals distributor Koda

Azelis to acquire specialty chemicals distributor Koda

10:22 AM, 26th October 2015
Azelis to acquire specialty chemicals distributor Koda
Hans Joachim Muller, CEO, Azelis. (File photo)

ANTWERP, BELGIUM: Azelis Group said that it has agreed to acquire US-based Koda Distribution Group (KDG) significantly enhancing its position as a leading global specialty chemicals distributor. The transaction is expected to be finalised by the end of 2015.

“Being part of the Azelis Group will provide a strong platform for increased growth and widespread benefits of being part of a global organisation with a regional focus,” said Frank Bergonzi, CEO and president, KDG.

KDG will be known as Azelis Americas, led by Bergonzi, who will assume the role as CEO and president of Azelis Americas and will become a member of the Azelis board of directors. Azelis Americas will continue to operate in the US and Canada, using its existing business model and go to market strategy.

“The specialty chemical market in North America is extremely important and the trend of suppliers moving their smaller accounts to specialty chemical distributors will continue for some time. KDG is an excellent partner to expand our business into the US and build our existing business in Canada,” said Hans Joachim Muller, CEO, Azelis.

Both companies have shown strong performances during 2015. KDG has demonstrated extensive growth both organically, and fuelled by recent acquisitions into new markets. Investment in laboratory facilities, new products and customer-facing employees over the last three years is helping to drive Azelis’ year on year growth of more than 10 percent in Europe and more than 15 percent in Asia Pacific.

© Worldofchemicals News



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