Azelis announces that it has signed an agreement to acquire 100% of the shares of PT Marga Dwi Kencana ("MDK").
Acquisition will Provide Azelis Expanded Presence in Indonesia
MDK is one of the leading distributors serving the personal care market in Indonesia.
MDK's product portfolio strategically complements Azelis' lateral value chain. It will expand the Group's platform to serve the high-growth personal care market and strengthen its presence in the broader life sciences market in the country. In addition, MDK's foothold in the Halal cosmetics market expands the Group's technical expertise to serve a wider spectrum of the personal care market.
Established in 2009 and headquartered in the greater Jakarta area, MDK employs over 30 staff and operates a technical center that will join Azelis' wider lab and technical support network.
The company has developed long-standing relationships with global and regional strategic principals. It serves a large, loyal customer base that relies on its technical and formulation expertise. MDK's management team and employees, including experienced sales and technical teams, will become part of Azelis. Support the business and integration process following the acquisition. The transaction is expected to close in the second quarter of 2024, after fulfillment of customary closing conditions.
Sertaç Sürür, Azelis Asia Pacific CEO & president, says,
“The acquisition of MDK provides us with an expanded presence in Indonesia and deepens our coverage in Asia Pacific. MDK’s strong market presence, complementary product portfolio, and innovation capabilities are well aligned with our business model and allow us to better support our customers and principals with innovative solutions."
"With our shared focus on innovation and technical knowledge as a cultural base, we look forward to welcoming the MDK team to Azelis and future opportunities for growth, together.”
Mr. Margono Hadisantoso, PT Marga Dwi Kencana co-founder and managing director, adds,
“We are pleased to become part of the Azelis team, as partnering with a well-regarded global leader will be beneficial for our company, customers, and principals, allowing us to scale up our business considerably with further opportunities for growth, cross-selling synergies, and access to additional blue-chip principals."
"Our combined businesses create an enhanced portfolio offering for our customers and allow us to join a strong regional technical network within the personal care market, expanding the solutions provided to partners.”
Source: Azelis