Azelis, announces the signing of the acquisition of 100% of the shares of Tunçkaya, a prominent distributor of food ingredients and additives in Turkey.
Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces the signing of the acquisition of 100% of the shares of Tunçkaya, a prominent distributor of food ingredients and additives in Turkey.
This acquisition further strengthens Azelis’ position in the fast-growing and attractive Turkish market for food, as well as in the broader life sciences market. Tunçkaya’s portfolio of products complements the Group’s lateral value chain for the domestic market, thereby further expanding its expertise and product offering to customers.
Founded by the late Zülfikar Tunç, Tunçkaya has grown to become a leading provider of ingredients and additives, as well as a range of blended products for various segments of the food market, supported by longstanding relationships with principals. Tunçkaya employs 25 people from its headquarters in Istanbul and serves over 500 customers. The transaction is expected to close in the first quarter of 2022, after fulfilment of customary closing conditions.