Azelis buys in Vietnam

Azelis has acquired a majority stake in two Vietnamese firms, MKVN Chemicals and Viet Chemicals, via their parent company Bellekimia Singapore. This continues a recent spree of acquisitions and investments in Asia for the global distributor.

Both companies were founded in 2000 and have offices in Hanoi and Ho Chi Minh City. They are active in personal care, industrial chemicals, agrochemicals and food, with about 700 customers. They also have personal care laboratories.

Azelis said that the deal is “consistent with Azelis’ corporate strategy of complementing organic growth with strategic acquisitions”. Kamal Hezry Kassim, managing director of both companies, will remain in his position.

In late 2020, Azelis had strengthened its Asian personal care business by acquiring Bronson and Jacobs Hong Kong and its fully owned subsidiary in Shanghai from Ixom. The firm specialises in the distribution of personal care ingredients, mainly for skin care. It has offices in Hong Kong, Shanghai and Guangzhou, the latter also including a laboratory.

This followed on from the acquisition of CosBond, a speciality chemicals and food ingredients distributor headquartered in Hong Kong and with facilities in China, in April and other acquisitions in Asia, notably PT Primaditha Jaya Mandiri in the Indonesian food market and S. Zhaveri Pharmakem, in India’s pharmaceutical market.