MKVN Chemicals and Viet Chemicals team will significantly increase Azelis’ presence in Vietnam allowing for significant portfolio expansion through lateral integration.
Azelis, a leading distributor of specialty chemicals and food ingredients, announced that 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.
Laurent Nataf, CEO and President of Azelis Asia Pacific, explains, “Growth in Asia Pacific has been one of the strategic priorities for Azelis. By strengthening our presence in Vietnam, we will gain better coverage in the entire region which is key for us to attract new mandates with our existing principals. Azelis and our new partners MKVN Chemicals and Viet Chemicals have highly complementary business models which will help us diversify our product portfolio significantly.”
Kamal Hezry Kassim, Managing Director of MKVN Chemicals and Viet Chemicals, said, “We are very excited about this partnership for several reasons. Firstly, becoming part of such a highly regarded, international player will not only provide continuity and security for our company but also additional expertise, infrastructure and growth opportunities.”
The acquisition of MKVN Chemicals and Viet Chemicals illustrates the support provided by EQT since the initial acquisition of Azelis. EQT is confident that the expanded range of services and global reach provided by this acquisition will continue to bring benefits to customers and principals of the combined group.
