It said the purchase of that French distributor of ingredients for nutraceuticals, flavor and fragrances, animal nutrition, personal care, pharma and food will enhance its lateral value chain by diversifying and expanding its presence in France and EMEA, while providing it with synergistic opportunities in animal nutrition.
The deal, said the Belgian firm, is consistent with its strategy of complementing organic growth with strategic acquisitions. It is expected to close at the end of next month.
Headquartered in Paris, with sales close to €100m, Quimdis was founded in 1988, and originally focused on essential oils and active ingredients. It now specializes in the ingredient distribution and formulation development, maintaining solid positions in the French market, but with sales into more than 45 countries, said Azelis. Last September saw it secure a deal with Fermentalg to distribute its plant based DHA range in the German market for use in multiple sectors.
Last month we reported that Swedish private equity group, EQT, was weighing an initial public offering (IPO) of Azelis for after the summer.
According to a report on Bloomberg, Azelis, could be valued at about €5bn (US$6bn) in an IPO. The company has about 2,500 employees, and customers in more than 50 countries, coupled with an extensive network of over 60 laboratories and research centers.
EQT acquired Azelis in 2018 from Apax Partners for an undisclosed amount. Canada’s PSP Investments was a co-investor in that deal.