Azelis has strengthened its position in the Chinese personal care market with the acquisition of CosBond.
WHO: CosBond was established in 2008 as a Chinese specialty chemicals and food ingredients distributor, building a strong market position in the personal care market. It serves more than 500 customers, ranging from major multinationals to smaller local producers, all seeking specialty products that bring added value to their brand. Headquartered in Hong Kong, the company has offices and warehouses in Hong Kong, Shanghai, Guangzhou, and Beijing.
Azelis is a leading distributor of specialty chemicals and food ingredients present in over 40 countries, with 15 personal care application labs across the world, and 2,000 employees. Knowledgeable teams of industry, market, and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. They offer a lateral value chain of complementary products to about 40,000 customers. In the US the company operates under a number of renowned co-brands in the personal care market segment.
WHY: The deal will enhance the position of Azelis in the fast-growing Chinese personal care market and is consistent with its corporate strategy of complementing organic growth with strategic acquisitions.
IN THEIR OWN WORDS: Laurent Nataf, CEO & President, Azelis Asia Pacific, commented, “Azelis China has enjoyed a steady growth since its inception in 2013 and has grown to become one of the main international players in the Chinese distribution industry. We have a strong presence in the food and nutrition market and we have been growing over past years in serving the personal care, homecare, agro and coatings industries. We run five application laboratories in Shanghai, including one for personal care which has had noteworthy achievements; it has won no less than 11 innovation awards in the last five years, all given by independent industry bodies. We are very excited to be able to now extend this vast technical knowledge to CosBond’s principals and customers.”
Jerome Cheung, Strategic Director at CosBond, adds, “We have had a very strong commercial presence on the market and have built a significant customer base, but the strong formulation and application support that Azelis can offer will bring a lot of added value in our offering to the market. We will also benefit from Azelis’ strong international infrastructure and access to additional customers and suppliers, as well as an increased focus on corporate social responsibility, something which is key in serving the personal care industry. We are also excited about the wider geographic reach we will be having. In short, we see many growth synergies and we are confident that we are entering a thriving new chapter in the history of our company.”
Jackson Chu, Managing Director Azelis China, comments, “China has a large and fast-growing personal care market, so now is the right moment to enhance our service offering. The combination of CosBond’s extended customer base, our joint good market knowledge and strong technical and formulation capabilities of Azelis’ Personal Care team will result in a more comprehensive specialty offering in China. In addition, we are confident this acquisition will bring ample cross-selling opportunities as well as prospects to expand the business with our existing long-standing and trusted partners.”
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