Personal care ingredient distributor Azelis has acquired two competitors, Localpack of Colombia and Oktrade in Turkey.
Founded in 2004, Localpack is a speciality chemical distributor located in Medellin that employs 27 staff.
The transaction is expected to close early in the first quarter of 2024 after fulfillment of customary closing conditions.
Meanwhile, Istanbul-based Oktrade is said to have a strong portfolio and technical expertise in colour cosmetics, skin care and sun care.
Founded in 2017, Oktrade employs 12 people, including technical sales experts serving customers across Turkey.
It also runs an application laboratory, which will expand Azelis’ existing personal care laboratory capabilities in the country.
“Our combined strength not only broadens our product offerings but also reinforces our capability to continue delivering the highest level of service and technical expertise to our customers,” said Azelis Turkey managing director Burcu Gezegen.
“This transaction is another illustration of our commitment to have the most complete lateral value chain for the end markets we serve, allowing us to be the reference innovation solutions in our industry,” she added.
