Azelis, a service provider in the specialty chemicals and food ingredients industry, has announced the acquisition of 100% of the shares of Tunçkaya, a distributor of food ingredients and additives in Turkey.
The acquisition further strengthens Azelis’ position in the Turkish market for food, as well as in the broader life sciences market. The distributor’s portfolio of products complements the group’s value chain for the domestic market, further expanding its expertise and product offering to customers.
In addition to ingredients and additives, the company supplies a range of blended products for various segments of the food market, supported by longstanding relationships with clients. It employs 25 people at its headquarters in Istanbul and serves more than 500 customers. The transaction is expected to close in the first quarter of 2022, after fulfilment of customary closing conditions.
Sertaç Sürür, MD, Azelis Turkey, said: “We’re very happy to bring Tunçkaya into the Azelis family. Their strong relationships in the food market and general market position is a fantastic addition for our lateral value chain and complements the organic growth of Azelis. Turkey is a fast growing region, and an increasingly important market in the food segment, so we’re delighted to grow together with Tunçkaya. We look forward to combining our talents, and leveraging our combined capabilities and expertise for our customers and principals in Turkey and across the wider EMEA region.”
