Azelis has signed an agreement to acquire Orkila, a chemicals and food ingredients distributor focused on Africa and the Middle East.
Headquartered in Beirut, Lebanon, Orkila has offices in 13 countries and serves “several thousand” customers across Africa and the Middle East.
Azelis said the economic acceleration, growing middle class and improved business environment in Africa provide it with the opportunity to expand in the continent.
Through the transaction, which is expected to close within four months, Azelis intends to acquire 100% of Orkila, with more than 220 employees joining the Azelis team.
“We are very excited that Orkila will become a part of Azelis,” said Hans Joachim Müller, Azelis CEO. “They are a well-established company, known in Africa and the Middle East for their high-quality expertise and service.
“We have been impressed by Orkila’s committed management, the similarity of our business models and excellent cultural fit. We know that many of our principals are currently looking into strengthening their activities in Africa.
“Combining the strength of a leading regional specialty distributor with the strength of Azelis will result in an excellent and unique platform for organic growth.”
Antoine Sacy, founder, chairman and CEO of Orkila, added: “After almost 15 years of growing on a stand-alone basis, it is time for us to move into global waters. Joining a well-established global player such as Azelis will enable us not only to continue to deliver high-quality products and services that our customers are accustomed to, but also to access new growth opportunities.
“It will enable us to continue to thrive under their ownership, securing unparalleled service to our customers, superior growth for our principals and a highly rewarding work environment for our employees.”
This year, Azeila has acquired Polish flavours distributor Euroconsultant and Canada-based ingredients distributor Chemroy.
The company has also strengthened its position in India through the acquisition of the distribution activities of MK Ingredients & Specialties and SSD Industries in the country.
© FoodBev Media Ltd 2019