Azelis Completes Acquisition of Megafarma in Mexico

Azelis announced completion of its acquisition of Megafarma. Megafarma is Mexico's leading specialty chemicals and food additives distributor. Since 1973, Megafarma has served the food, pharmaceutical and veterinary markets across Mexico. Megafarma, headquartered in Mexico City, operates two additional facilities in Guadalajara and Monterrey. The signing of the agreement was announced in December 2019. The transaction enables Azelis to expand into the Latin America region, establish a strong position in Mexico's pharmaceutical and food segments, and gain presence in other market segments including plastics, foams, CASE (coatings, adhesives, sealants, elastomers), personal care, and household and industrial cleaning. Frank Bergonzi, Chief Executive Officer and President of Azelis Americas, made the following statement in December: "We are very impressed by Megafarma's business model and strong management team. They are financially sound and have demonstrated strong performance over the years with double-digit sales growth between 2016 and 2018. Like Azelis, they are highly focused on their areas of expertise. Our expectation is to expand the strategic supplier relationships we have in the food and pharmaceutical sectors in the United States and Canada. With the acquisition of Megafarma, Azelis Americas will expand its life sciences footprint and will have a platform to bring other key Azelis market segments such as plastics, foams, CASE, personal care, and household and industrial cleaning to Mexico. We are excited that Megafarma's employees will join the Azelis Americas family while maintaining their team and all operations."