The acquisition in Serbia strengthens Azelis’ position in the region, as Finkochem is the second largest distributor in the country.
Azelis will now be able to accelerate growth within their food & health, personal care and chemical industries business lines in Serbia as well as in the adjacent countries.
The combination with its existing operations in Croatia will provide Azelis with a greater access to markets in the region and will improve service levels for suppliers and customers of the group.
Azelis Group CEO Joris Coppye said Finkochem’s business covers some less developed Azelis markets in the Mediterranean East region and it complements the company’s 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," Coppye said.
Following the acquisition, Azelis will now initiate integration for Finkochem.