TAGS: Skin Care Hair Care Sun Care Perfumes & Fragrances
Azelis announces that it has signed an agreement to acquire 100% of the shares of Eurotrading S.p.A (Eurotrading), a distributor of specialty chemicals to the personal care market in Italy.
The acquisition reinforces Azelis’ leading footprint in the thriving Italian market for personal care, as well as in the broader life sciences segment. Eurotrading’s extensive product portfolio in actives, emollients, and emulsifiers further enhances the Group’s lateral value chain and solidifies its market leadership in the local personal care industry.
Transaction Expected to Close in the Fourth Quarter
The transaction is expected to close in the fourth quarter of this year, after fulfillment of customary closing conditions.
Founded in 1996, Eurotrading has developed into one of the leading distributors of personal care raw materials (skin care, sun care, fragrances, and hair care), with a strong product portfolio from the largest global and regional principals.
Marco Nicolato, CEO of Eurotrading, comments, “
We are thrilled to join the Azelis team, as it clearly opens new, synergistic opportunities. Becoming part of a larger, international organization offers great development, both for our team and for our customers and principals. We will also benefit from Azelis' reputation in sustainability, with the EcoVadis Platinum rating and 1st place in the Sustainalytics ranking, which are very important to our principals and customers in the personal care industry. We look forward to combining our strengths and creating a stronger business together.”
The company provides innovative formulations to about 500 customers, leveraging an application laboratory near Padova, in the northeast of the country. Eurotrading’s strong team of more than 30 technical staff, including experienced senior management, will join Azelis and will continue supporting the business during and after integration.
Marco Gerosa, managing director of Azelis Italy, adds,
“Joining forces with Eurotrading furthers our growth in the personal care market across Italy and EMEA. In partnerships with leading international principals, Eurotrading offers innovative solutions that perfectly complement Azelis’ product portfolio, and their strong technical sales team will bring great contributions to the business. We look forward to welcoming the Eurotrading team and delivering added value for our principals and customers.”
Source: Azelis
