ANTWERP, Belgium--(BUSINESS WIRE)--Regulatory News:
Azelis (Brussels:AZE), a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire 100% of the shares of PT Marga Dwi Kencana (“MDK”), one of the leading distributors serving the personal care market in Indonesia.
MDK’s product portfolio strategically complements Azelis’ lateral value chain, expanding the group’s platform to serve the high-growth personal care market, and reinforces its footprint in the broader life sciences market in the country. In addition, MDK’s foothold in the Halal cosmetic market expands the group’s technical expertise to serve a wider spectrum of the personal care market.
Founded in 2009 and headquartered in the greater Jakarta area, MDK employs over 30 staff and runs a technical center that will join Azelis’ wider lab and technical support network. The company has developed long-standing relationships with global and regional strategic principals and serves a large, loyal customer base that relies on its technical and formulation expertise. MDK’s management team and employees, which include experienced sales and technical teams, will become part of Azelis, supporting the business and the integration process following the acquisition. The transaction is expected to close in the second quarter of 2024, after fulfillment of customary closing conditions.
Sertaç Sürür, Azelis Asia Pacific CEO & President, says:
“The acquisition of MDK provides us with an expanded presence in Indonesia and deepens our coverage in Asia Pacific. MDK’s strong market presence, complementary product portfolio, and innovation capabilities are well aligned with our business model and allow us to better support our customers and principals with innovative solutions. With our shared focus on innovation and technical knowledge as a cultural base, we look forward to welcoming the MDK team to Azelis and future opportunities for growth, together.”
Mr. Margono Hadisantoso, PT Marga Dwi Kencana Co-Founder and Managing Director, adds:
“We are pleased to become part of the Azelis team, as partnering with a well-regarded global leader will be beneficial for our company, customers, and principals, allowing us to scale up our business considerably with further opportunities for growth, cross-selling synergies, and access to additional blue-chip principals. Our combined businesses create an enhanced portfolio offering for our customers and allow us to join a strong regional technical network within the personal care market, expanding the solutions provided to partners.”
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About Azelis
Azelis is a leading global innovation service provider in the specialty chemical and food ingredients industry, present in 65 countries across the globe with over 4,200 employees. 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 lateral value chain of complementary products to more than 63,000 customers, supported by +2,800 principal relationships, creating a turnover of €4.2 billion (2023). Azelis Group NV is listed on Euronext Brussels under ticker AZE.
Across our extensive network of more than 70 application laboratories, our award-winning staff help develop formulations and provide technical guidance throughout the customers’ product development process. We combine a global market reach with a local footprint to offer a reliable, integrated, and unique digital service to local customers and attractive -business opportunities to principals. Top industry-rated by Sustainalytics, Azelis is a leader in sustainability. We believe in building and nurturing solid, honest and transparent relationships with our people and partners.
Impact through ideas. Innovation through formulation.