News
Azelis acquires Canadian distributor
13 Mar 2019The transaction will, the company says, place Azelis as one of Canada's leading specialty distributors with a strong position in the CASE (coatings, adhesives, construction and ink), food, pharmaceutical, nutraceutical and personal care segments.
Azelis has acquired Chemroy, a Canadian distributor of specialty chemicals and food ingredients.
The transaction will, the company says, place Azelis as one of Canada's leading specialty distributors with a strong position in the CASE (coatings, adhesives, construction and ink), food, pharmaceutical, nutraceutical and personal care segments. Chemroy is said to be complementary to Azelis in terms of markets served, principal relationships and product offering, and Azelis has well established relationships with the majority of Chemroy's principals. The transaction sees Azelis acquire 100% of Chemroy, which was founded in 1967 and has 59 employees. Headquartered in Brampton, Ontario, Chemroy offers warehousing across Canada and has further offices in Laval, Quebec and Vancouver, British Colombia. Frank Bergonzi, CEO and President Azelis Americas, said: "This transaction is an important milestone for Azelis in the Americas. Chemroy is a leading distributor of specialty chemicals and food ingredients in Canada, with an excellent reputation. We share similar values and culture, and this combination will ensure a more robust product portfolio to our customers." Hans Joachim Müller, Group CEO Azelis, said: "With the acquisition of Chemroy, we establish a strong footprint in Canada. This is an excellent strategic fit and we are excited by the opportunity for further growth, in both Canada and the US. Chemroy's activities in the food and nutraceutical markets will allow us to expand this segment, by leveraging our relationships with global partners." John Graham, President at Chemroy, said: "We are confident in the success of this acquisition, which is an exciting opportunity for our employees to join forces with an established global player in Azelis. We share similar strategies and culture and I am confident that Chemroy will continue to thrive under its new ownership."