Azelis, a service provider in the specialty chemicals and food ingredients industry, has agreed to acquire 100% of the shares in Coseal in South Korea. Coseal is known for its specialist distribution, repackaging and blending of agricultural/horticultural surfactants. The acquisition of Coseal is hoped to drive Azelis’ growth across Asia Pacific.
Established in 1973 and headquartered in Seoul, Coseal’s 45 employees will be integrated into the Azelis team.
This transaction is expected to close in the third quarter of 2021.
Kang Sang Jin, CEO of Coseal, said: “We are delighted to be partnering with Azelis. With almost 50 years of experience operating in South Korea, our joint focus on sales excellence and innovation-driven services brings new and exciting opportunities. There is huge potential to gain new business in South Korea with Coseal’s expertise of the sector and Azelis’ existing global principal network and international agricultural/horticultural customer base.”
Laurent Nataf, CEO & President of Azelis Asia Pacific, added: “Like Azelis, Coseal has strong technical expertise and strives to continually provide tailor-made formulations to customers. This has been critical in building Coseal’s long-lasting and collaborative relationships. Azelis in South Korea has been largely focused on personal care, so we’re very excited to enter the agricultural/horticultural market with such a reputable partner by our side.”
Azelis entered South Korea in 2018 with the acquisition of SammiChem Co., while in 2021, it acquired MH, a food distributor.