Home Hair spa Azelis strengthens its leadership in the Italian personal care market with the acquisition of Eurotrading SpA

Azelis strengthens its leadership in the Italian personal care market with the acquisition of Eurotrading SpA

0

Antwerp, Belgium–(BUSINESS WIRE)–Regulatory news:

Azelis (Brussels: AZE), a leading provider of innovation services to the specialty chemicals and food ingredients industry, announces the signing of an agreement to acquire 100% of the shares of Eurotrading SpA (“Eurotrading”), one of the leading distributors of specialty chemicals to the personal care market in Italy.

The acquisition strengthens Azelis’ leadership position in the thriving Italian personal care market, as well as the broader life sciences segment. Eurotrading’s extensive product portfolio in actives, emollients and emulsifiers further strengthens the Group’s side value chain and reinforces its leadership in the local personal care industry market.

Founded in 1996, Eurotrading has become one of the leading distributors of personal care raw materials (skincare, suncare, fragrances and haircare), with a strong product portfolio from the largest global and regional primes. . The company supplies innovative formulations to approximately 500 customers, relying on an application laboratory near Padua, in the northeast of the country. Eurotrading’s strong team of over 30 technicians, including experienced senior managers, will join Azelis and continue to support the business during and after the integration. The transaction is expected to close in the fourth quarter of this year, following the satisfaction of customary closing conditions.

Marco Nicolato, CEO of Eurotrading, comments:

We are excited to join the Azelis team as it clearly opens up new synergistic opportunities. Being part of a larger international organization offers great development, both for our team and for our clients and principals. We will also benefit from Azelis’ reputation for sustainability, with the EcoVadis Platinum rating and 1st place in the Sustainalytics ranking, which are very important to our constituents and customers in the personal care industry. We look forward to combining our strengths and building a stronger business together.

Marco Gerosa, Managing Director of Azelis Italy, adds:

“Joining forces with Eurotrading promotes our growth in the personal care market in Italy and the EMEA region. In partnership with leading international principals, Eurotrading offers innovative solutions that perfectly complement Azelis’ product portfolio, and their strong technical sales team will make great contributions to the business. We look forward to welcoming the Eurotrading team and adding value to our principals and clients.

About Azelis

Azelis is a leading global provider of innovation services to the specialty chemical and food ingredient industry, operating in over 57 countries worldwide and employing over 3,000 people. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within life sciences and industrial chemicals. We offer a side value chain of complementary products to over 51,000 customers, supported by ~2,300 primary relationships, generating revenue of €2.8 billion (2021). Azelis Group NV is listed on Euronext Brussels under the symbol AZE.

Through our extensive network of more than 60 application labs, our award-winning staff help develop formulations and provide technical guidance throughout customers’ product development process. We combine a global reach with a local footprint to deliver a reliable, integrated and unique digital service to local clients and attractive business opportunities to constituents. Rated EcoVadis Platinum, Azelis is a leader in sustainability. We believe in building and maintaining strong, honest and transparent relationships with our employees and partners.

Impact through ideas. Innovation through formulation.

www.azelis.com