Azelis has acquired Canada-based speciality food ingredients and chemicals distributor Chemroy for an undisclosed figure.
Chemroy was founded in 1967 and is headquartered in Brampton, Ontario, and the company administers a number of warehouses and offices throughout Canada.
Azelis claims that the acquisition will strengthen its position as one of Canada’s leading speciality ingredients distributors, enhancing its position in the coatings, food and nutraceutical segments.
Frank Bergonzi, CEO and president of Azelis Americas, said: “This transaction is an important milestone for Azelis in the Americas. Chemroy is a leading distributor of speciality chemicals and food ingredients in Canada, with an excellent reputation.
“We share similar values and culture, and this combination will ensure a more robust product portfolio to our customers.”
Hans Joachim Müller, group CEO of Azelis, added: “With the acquisition of Chemroy, we establish a strong footprint in Canada. This is an excellent strategic fit and we are excited by the opportunity for further growth, in both Canada and the US.
“Chemroy’s activities in the food and nutraceutical markets will allow us to expand this segment, by leveraging our relationships with global partners.”
John Graham, Chemroy’s president, added: “We are confident in the success of this acquisition, which is an exciting opportunity for our employees to join forces with an established global player in Azelis.
“We share similar strategies and culture and I am confident that Chemroy will continue to thrive under its new ownership.”
Last week, Azelis strengthened its position in the Indian food sector by acquiring the distribution activities of MK Ingredients & Specialties and SSD Industries (MK) in the country.
Azelis also agreed a deal earlier this year to acquire Euroconsultant, a Polish distributor of flavours, shelf life extenders and other products predominantly for the meat segment.
By Martin White
Source: FoodBev
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