Azelis Strengthens Its Position in the Turkish Personal Care Market With the Acquisition of Oktrade

ANTWERP, Belgium--(BUSINESS WIRE)--Regulatory News:

Azelis (Brussels:AZE), a leading 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 Oktrade Kimya Sanayi ve Ticaret Anonim Şirketi (‘Oktrade’), a distributor of specialty personal care ingredients based in Istanbul, Türkiye. Already active in the Turkish personal care market, Azelis enhances its offering by strengthening its lateral value chain with this acquisition, enabling it to become a leader in this fast-growing market.

Founded in 2017 by Oktay Öztürk, Oktrade has a strong portfolio and solid technical expertise in color cosmetics, skin care and sun care, perfectly complementing Azelis’ existing portfolio. Oktrade employs 12 people, including technical sales experts serving customers across the entire country. It also runs an application laboratory, which will expand Azelis’ existing personal care laboratory capabilities in the country and support Azelis’ commitment to provide the most innovative solutions to both its customers and principals.

Oktay Öztürk, Managing Director Oktrade comments:
“Joining Azelis marks a new milestone in our company's development. Our ambition is to become a leader in the Turkish personal care market thanks to our shared commitment to offering our customers the most innovative solutions and high-quality products. Leveraging Azelis' expertise and network will enable us to achieve this goal.”

Burcu Gezegen, Managing Director Azelis Türkiye, adds:
“We are excited to welcome Oktrade to the Azelis family. Our combined strength not only broadens our product offerings but also reinforces our capability to continue delivering the highest level of service and technical expertise to our customers. This transaction is another illustration of our commitment to have the most complete lateral value chain for the end markets we serve, allowing us to be the reference innovation solutions in our industry.”

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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