Regulatory News:
Azelis (Brussels:AZE), a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire 100% of the shares of Gillco Ingredients ("Gillco"), a leading specialty ingredient provider in the food nutrition market in the USA.
The acquisition represents a strategic expansion into the attractive food nutrition market in the US, reinforcing Azelis' footprint in the life sciences. In addition to the group's flavors fragrances offering, Gillco allows Azelis to create a compelling portfolio and execute its growth strategy in the US food and nutrition industry, as well as the wider life sciences in North America.
Founded in 1982, Gillco has developed long-standing relationships with global blue-chip suppliers, a diverse portfolio of specialty ingredients and applications, and strong market expertise across most segments of the food industry, including bakery, culinary, beverage, dairy and nutraceutical markets. The company has 40 highly skilled and experienced employees serving almost 1,000 customers from its headquarters in San Marcos, California. All of Gillco's staff are expected to transition to Azelis, including the owner, Bill Gillies, who will remain with the company to ensure a seamless transition.
The transaction is expected to close in the second quarter of 2023, after the fulfilment of customary closing conditions.
Dr. Hans Joachim Müller, Azelis Chief Executive Officer, comments:
"In line with our strategic vision to be the preeminent innovation service provider in all territories where we operate, we are happy to welcome Gillco to the Azelis family. This acquisition strengthens our lateral value chain for the food and nutrition market, as well as the broader life sciences segment in the US, and allows us to offer a truly compelling proposition to both principals and customers."
Frank Bergonzi, Chief Executive Officer of Azelis Americas, adds:
"Gillco, with its national reach, established market position and long-standing relationships with several blue-chip principals will give us a significant foothold in the US food market, a strategic priority for Azelis Americas. In addition, Gillco and Azelis share a commitment to technical expertise, strong digital capabilities, and sustainability. This combination will provide many operational synergies and a platform for further growth by leveraging Azelis' international infrastructure and global lab network."
Bill Gillies, owner of Gillco Ingredients, remarks:
"Gillco looks forward to continuing its legacy of thoughtful growth and collaboration with customers through our team of experienced and dedicated employees, and long-term relationships with our key suppliers and customers. Becoming part of Azelis, a global market leader, is a new milestone in our company's evolution. We share similar vision and culture, and I am confident that Gillco will continue to thrive as part of the Azelis group."
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About Azelis
Azelis is a leading global innovation service provider in the specialty chemical and food ingredients industry, present in 63 countries across the globe with over 3,800 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. We offer a lateral value chain of complementary products to more than 59,000 customers, supported by +2,700 principal relationships, creating a turnover of €4.1 billion (2022). Azelis Group NV is listed on Euronext Brussels under ticker AZE.
Across our extensive network of more than 65 application laboratories, our award-winning staff help develop formulations and provide technical guidance throughout the customers' product development process. We combine a global market reach with a local footprint to offer a reliable, integrated, and unique digital service to local customers and attractive -business opportunities to principals. Top industry-rated by Sustainalytics, Azelis is a leader in sustainability. We believe in building and nurturing solid, honest and transparent relationships with our people and partners.
Impact through ideas. Innovation through formulation.
www.azelis.com
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Contacts:
Azelis
Sarah Van Alsenoy
Corporate Communications Business Partner
T: +32 499 22 36 62
E: sarah.vanalsenoy@azelis.com
