Azelis, an innovation service provider in the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire Localpack, a specialty chemical distributor active in both the life sciences and industrial chemicals segments in Colombia.
The transaction is expected to close early in the first quarter of 2024 after fulfillment of customary closing conditions.
Strategic Expansion for Regional Growth
The acquisition represents a strategic expansion of the Group’s footprint, consistent with its growth objectives in the region.
Localpack is one of the leading specialty chemical distributors in the domestic market. Localpack’s long-standing relationships with global and regional principles and the technical product expertise that it has built over the years, expand Azelis’ lateral value chain across Latin America. This expansion will allow Azelis to serve customers better and accelerate its growth in the region.
The addition of Localpack’s portfolio of products and capabilities marks another significant milestone in Azelis’ growth strategy in the region.
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The acquisition of Localpack brings Azelis a partner with a strong product portfolio and performance track record in Colombia. This transaction expands our customer base and relationships with key principle partners who are aligned with our strategic vision for the region,” said Todd Cottrell, chief executive officer, Azelis Americas.
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The Localpack team shares our commitment to innovation and we look forward to continuing towards our goal of becoming the preeminent provider of innovation and solutions for our customers and principles in Latin America,” added Cottrell.
Common Set of Core Values
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We have very good cultural fit with Azelis and we share a common set of core values. Our focus in specialty chemicals, long-standing relationships and a consistent technical-commercial approach to market has allowed Localpack to position itself as a reliable and valuable partner for our customers in Colombia, while contributing significantly to the business of our principles,” said Nicolás Fernández, chief executive officer and co-founder of Localpack.
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Leveraging on Azelis’ strong network and leadership in sustainability, digitalization and innovation, Localpack will be able to thrive and better support the mission of our employees, customers and principles. We look forward to joining the Azelis team and to contribute significant value to the growth strategy of Azelis in the region,” said Fernández.
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Localpack team’s expertise in markets served, work ethic, enthusiasm and customer focus fit perfectly with our values. This strategic acquisition further demonstrates our commitment to becoming the preeminent provider of innovation and solutions for our customers and principles. We look forward to welcoming Localpack to the Azelis family,” said Eduardo Salinas, managing director, Latin America, Azelis.
Source: Azelis