Azelis Strengthens Footprint in Latin America With the Acquisition of Localpack in Colombia

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 Localpack S.A., a specialty chemical distributor active in both the life sciences and industrial chemicals segments in Colombia. 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. The company employs a staff of 27 people, and operates an application laboratory close to Medellin, serving customers across Colombia. Localpack’s long-standing relationships with global and regional principals, 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 transaction follows several key initiatives in Latin America by Azelis in recent years, including the establishment of a regional innovation center (RIC) in Mexico in 2022, the acquisition of ROCSA S.A. in Colombia in 2022, and Vogler Ingredients Ltda. in Brazil earlier this year. The addition of Localpack’s portfolio of products and capabilities marks another significant milestone in Azelis’ growth strategy in the region.

Todd Cottrell, CEO, Azelis Americas, comments:
“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 principal partners who are aligned with our strategic vision for the region. 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 principals in Latin America.”

Nicolás Fernández, CEO and co-founder of Localpack, adds:
“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 principals. 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 principals. We look forward to joining the Azelis team and to contribute significant value to the growth strategy of Azelis in the region.”

Eduardo Salinas, Managing Director, Latin America, Azelis, comments:
“The Localpack team is an outstanding group of professionals that will bring significant value to Azelis. Their 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 principals. We look forward to welcoming Localpack to the Azelis family.”

The transaction is expected to close early in the first quarter of 2024 after fulfillment of customary closing conditions.

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About Azelis
Azelis is a leading global innovation service provider in the specialty chemical and food ingredients industry, present in 63 countries across the globe with over 3,800 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 59,000 customers, supported by +2,700 principal relationships, creating a turnover of €4.1 billion (2022). Azelis Group NV is listed on Euronext Brussels under ticker AZE.

Across our extensive network of more than 65 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.
www.azelis.com

About Localpack
Founded in 2004, Localpack is a Colombian company that develops markets for our partners and helps customers formulate better products. The specialty chemicals we offer, on top of our high level of service, allow our customers to develop better formulas to compete and win in their respective markets. We serve several industrial applications such as Paints & Coatings, Polymerization, Disinfection and Cleaning, Asphalt, Construction, Lubricants & Greases, Plastics & Rubber, and Agrochemicals, and in the life sciences area we serve customers in food and personal care, along with our service to the pharma market through our affiliated company Gatepharma. We serve more than 400 active customers who trust our products, processes, and services.

https://localpack.com.co