Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces that it has reached an agreement to acquire a majority stake in Ashapura Aromas Private Limited, distributor of ingredients in the flavors and fragrances market in India.
This acquisition provides Azelis with a platform in Asia Pacific, creating a global flavors and fragrances network, following its 2021 acquisitions of Vigon in the US and Quimdis in France, serving the Americas and EMEA regions respectively. Ashapura’s extensive product portfolio complements the group’s lateral value chain in the fast-growing flavor and fragrances market segment, strengthening the offering and technical expertise Azelis provides to customers.
“Acquiring a majority stake in Ashapura is an important element of our global growth strategy”, said Dr. Hans Joachim Müller, Azelis Chief Executive Officer, “that completes our F&F offering across all regions following the group’s acquisitions of Vigon and Quimdis, and allows us to become a market leader in the F&F industry with Ashapura as the cornerstone of our F&F platform in Asia Pacific.”
Founded in 2003 and headquartered in Mumbai, Ashapura is the leading distributor of F&F ingredients in India, representing more than 225 principals with well-established partnerships and serving over 900 customers globally through the breadth and depth of its portfolio of products. Ashapura’s 100 plus employees will join Azelis, along with founders and owners Ajaykiran and Nayan Gudka, who will remain to lead the business post-integration. The transaction is expected to close before the end of the third quarter, after fulfilment of customary closing conditions.