Azelis expands into South Korea with acquisition of SammiChem
Azelis is delighted to announce it has signed an agreement to acquire a 100% ownership of SammiChem Co, a distributor of personal care ingredients in South Korea. The company, which specializes in cosmetics, is located in Seoul and employs 17 employees, who will be joining the Azelis team. With this acquisition, Azelis establishes presence in South Korea and is now active in 12 countries across Asia Pacific region.
Dr. Hans Joachim Müller, Azelis CEO, commented on the deal: “South Korea is a technologically advanced country with highly skilled, affluent middle class. A large part of the Asia Pacific personal care market is located in South Korea, making it a very attractive country, both in terms of size and product quality. South Korea is known for its product innovation and affordable high quality brands which are increasingly popular around the world. As we have been building a very strong technical expertise in life sciences in Asia Pacific, personal care in particular, this all makes South Korea very attractive for us. We found an excellent strategic fit with Sammi and we are now very excited to start growing our business here.”