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Azelis diversifies presence in South Korea through acquisition of leading food distributor MH
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Saturday, 03 July, 2021, 16 : 00 PM [IST]
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Seoul, South Korea
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Azelis, a leading global innovation service provider in the specialty chemical and food ingredients industry, has unveiled the acquisition of MH in South Korea, a reputable local distributor in the food ingredients market. The company’s already strong presence in the personal care market will be complemented by MH’s foothold in these new market segments.
Highlights & rationale
• This transaction enhances the company’s lateral value chain by diversifying and expanding its presence in South Korea
• The brand provides a foothold in the food and health segment
• The company customers will benefit from the brand’s relationships with renowned global ingredient suppliers
• The transaction is consistent with the company’s strategy of complementing organic growth with strategic acquisitions
Established in 2005 and headquartered in Seoul, the brand is a reputable local distributor of food ingredients such as gluten, starches, sweeteners, and functional food ingredients. MH is a family business owned by Maeng Moon-Ho, who will remain in post and support with the integration.
With this acquisition, the company is broadening its offering in the highly attractive and expanding innovative food market of South Korea, with its 51m inhabitants and a high GDP per capita.
Maeng Moon-Ho, founder and managing director of MH, said, “We are very grateful for the presence we were able to build in the South Korean food market and excited about the opportunity to continue to expand our business under Azelis’ ownership by leveraging its global principal relationships. Becoming part of the Azelis family will secure our future in South Korea, supported by Azelis platforms in areas such as digital, sustainability and regulatory.”
Laurent Nataf, CEO and president of Azelis Asia Pacific, said, “As Azelis already has a solid food presence in other countries in Asia Pacific, this new acquisition will further improve our food footprint in the region. This in turn opens up the opportunity to expand our lateral value chain for food in South Korea and to attract new mandates from Azelis’ Asia-Pacific food & health principals. Our presence in South Korea has been predominantly in personal care until now, so this acquisition also provides excellent complementarity and diversification into the food market.”
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