Azelis has signed an agreement to acquire 100% of the shares of Hortimex, a Polish speciality chemicals distributor active in the food ingredients and nutraceuticals segments.
Hortimex is a distributor of food ingredients with a particular focus on non-meat applications, such as human nutrition, functional preparations, confectionery and bakery.
The deal is set to expand Azelis’ footprint in Poland, boosting its position in the food and nutrition space and enabling it to serve local customers better and accelerate its growth within the country.
Hortimex’s CEO Mateusz Kowalewski said: “After 36 years developing our family business, we are excited to join Azelis and open the door to new opportunities. We are fully aligned with Azelis’ vision of ‘innovation through formulation’ and are excited to leverage our combined capabilities to accelerate our growth in the Polish food and nutraceuticals markets.”
Małgorzata Makówka, managing director at Azelis Poland & Ukraine, added: “We are delighted to welcome Hortimex, a recognised company in the industry with a strong track record of excellence and customer satisfaction, to the Azelis team. Hortimex’s portfolio and competencies perfectly complement Azelis’ local footprint, creating a compelling proposition for both customers and principals in the food & nutraceuticals market.”
The transaction is expected to close in Q4 of this year, subject to customary transaction conditions. Financial terms were not disclosed.
by Phoebe Fraser
Source: foodbev.com
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