Azelis expands in Latin America with strategic acquisition of Localpack S.A.
Azelis (Brussels:AZE), a global leader in the specialty chemicals and food ingredients industry, has reached a definitive agreement to acquire Localpack S.A., a prominent specialty chemical distributor in Colombia. This acquisition marks a significant step in Azelis’ strategic expansion in Latin America, aligning with its regional growth objectives.
Localpack S.A.: A Key Player in the Colombian Market
Localpack, recognized as a leading specialty chemical distributor in Colombia, employs a team of 27 professionals and operates an application laboratory near Medellin. With a focus on serving customers across Colombia, Localpack has established long-standing relationships with global and regional principals and has developed extensive technical product expertise. This acquisition expands Azelis’ lateral value chain in Latin America, enhancing its ability to serve customers and accelerate growth in the region.
Global Chemicals Leader Azelis to Strengthen Footprint in Colombia by Acquiring Localpack
Azelis’ Strategic Growth in Latin America
The acquisition of Localpack is part of Azelis’ recent initiatives in Latin America, including the establishment of a regional innovation center in Mexico in 2022, acquisitions of ROCSA S.A. in Colombia, and Vogler Ingredients Ltda. in Brazil. The integration of Localpack’s product portfolio and capabilities represents another significant milestone in Azelis’ regional expansion strategy.
Leadership Comments on the Acquisition
Todd Cottrell, CEO of Azelis Americas, emphasized the strategic importance of acquiring Localpack, noting its strong product portfolio and performance track record in Colombia. He highlighted the alignment with Azelis’ vision for the region and the shared commitment to innovation.
Nicolás Fernández, CEO and co-founder of Localpack, expressed enthusiasm about the cultural fit and shared values with Azelis. He emphasized Localpack’s specialty focus and market position, which, combined with Azelis’ network and leadership in sustainability and innovation, will bolster their mission in Colombia.
Eduardo Salinas, Managing Director of Latin America at Azelis, praised the Localpack team for their professionalism and expertise, aligning with Azelis’ values. He reiterated the strategic significance of this acquisition in becoming a leading provider of innovative solutions in the region.
Closing and Future Prospects
The transaction is expected to close early in the first quarter of 2024, subject to customary closing conditions. This acquisition is a testament to Azelis’ commitment to expanding its innovative and sustainable solutions in the specialty chemicals industry, particularly in the dynamic Latin American market.