Tuesday, 26 January 2021

Azelis expands to Vietnam by acquiring two chemical companies

05 January 2021 | News

Acquires MKVN Chemicals and Viet chemicals

Photo Credit: Freepik

Photo Credit: Freepik

Azelis, a leading distributor of specialty chemicals and food ingredients, announced it has acquired a majority shareholding of MKVN Chemicals Co Ltd (MKVN Chemicals) and Viet Chemicals Trading and Service Co Ltd (Viet Chemicals) through their parent company Bellekimia Singapore Pte. Ltd (Bellekimia). Both companies are active in personal care, industrial chemicals, agro and food segments as well as supply chain solutions. Founded in 2000 and with offices in Hanoi and Ho Chi Minh, MKVN Chemicals and Viet Chemicals have a strong reputation in Vietnam, serving first-class international principals and 700 customers.

Highlights & rationale

  • Strong market presence and know-how of the local MKVN Chemicals and Viet Chemicals team will significantly increase Azelis’ presence in Vietnam allowing for significant portfolio expansion through lateral integration.
  • MKVN Chemicals’ and Viet Chemicals’ main business activity in personal care benefits directly from these favorable macroeconomic factors.
  • This transaction is consistent with Azelis’ corporate strategy of complementing organic growth with strategic acquisitions. 

Mr. Kamal Hezry Kassim, Managing Director of MKVN Chemicals and Viet Chemicals, will continue to manage the business and will report to Azelis Asia Pacific CEO & President, Laurent Nataf

Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, explains, “MKVN Chemicals and Viet Chemicals currently operate best-in-class personal care laboratories in Vietnam. These laboratories will provide important added value to Azelis’ existing technical expertise and will bring benefits to the entire region.” 

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