News

Azelis acquires Mexican distributor

Azelis has signed an agreement to acquire 100% of the outstanding shares of Megafarma, a Mexican specialty distributor for pharma, food and veterinary industries.

Headquartered in Mexico City, the company serves a large number of customers in all Mexican regions. The integration of Megafarma will provide Azelis access to a promising market, it says, and creates a strong platform for growth in the global specialty chemicals and food ingredients distribution business.

Megafarma was founded in 1973 to fill the needs of a growing Mexican pharmaceutical market. The company grew gradually over the years and has become a player in the pharma and food markets in Mexico.

The transaction is expected to be completed within the next month.

Dr. Hans Joachim Müller, Azelis Chief Executive Officer & President, said: “Being the most populous country in the Americas after the United States and Brazil and with a large specialty chemicals market, Mexico is an excellent entry point into the Spanish speaking part of America, where Azelis was not yet present. Local presence in Mexico will allow us to add new mandates of food and pharma principals we already work with in other geographies. The combined product and principal portfolio and geographic spread will allow us to accelerate our growth strategy and solidify our position as a preferred partner in the specialty chemicals business.”

Martin Hernandez, Megafarma General Director, said: “Joining Azelis means becoming part of a growing international group, which is a milestone in our company’s development. We share similar strategies and culture and I am confident that Megafarma will continue to thrive under its new ownership. Our people look forward to joining forces with their Azelis colleagues and building a unique product and principal portfolio to benefit our customers and employees.”

Frank Bergonzi, Azelis Americas Chief Executive Officer & President, said: “We have been impressed by the business model and the strong management team at Megafarma. They are financially solid and have shown a very strong track record over the years, with double-digit sales growth between 2016 and 2018. Like Azelis, they are highly focused on specialties. Our expectation is to expand the strategic supplier relationships we have in the US and Canada in the food and pharma segments. Through the acquisition of Megafarma, Azelis Americas will increase its Life Sciences footprint and will have the platform to bring other Azelis key market segments into Mexico, such as Plastics, Foam, CASE, Personal Care, and Homecare & Industrial Cleaning. We are excited to have the Megafarma employees join the Azelis Americas family, with the team and all operations remaining in place.”