Azelis completes the acquisition of Finkochem d.o.o.
Azelis completed the acquisition of Finkochem d.o.o., a company specialising in the sales and distribution of a wide range of raw material for the food, chemical industries (detergents and homecare), plastics additives, metallurgy and rubber.
With this strategic acquisition in Serbia, Azelis greatly reinforces its position in the region as Finkochem is the second largest distributor in the country. Azelis will now have the capacity to accelerate growth within their Food & Health, Personal Care and Chemical Industries business lines not only in Serbia, but also in the adjacent countries.
“2010 has been a remarkable year for Azelis with a successful acquisition at the end of the year. We will continue this trend in 2011 by further developing our existing resources, but also focusing on new acquisition opportunities” says Joris Coppye, Group Chief Executive Officer of Azelis. “Finkochem’s business covers some less developed Azelis markets in the Mediterranean East region and it complements our industry focused product range, especially in Food and Chemical Industries. The combined organisations will ensure our strategic position across Eastern Europe and Mediterranean East, create synergies and expand our distribution network for the benefit of our supplier and customer base significantly.”
Dubravka Mirković, General Manager and previous shareholder of Finkochem, will remain General Manager of the business and secure the successful integration into the Azelis Group and the future development of the company.
Other news from the department business & finance
