Azelis Acquires Tunçkaya

Azelis Acquires Tunçkaya

Azelis strengthens its footprint in the EMEA Food and Health market by acquiring Tunçkaya in Turkey.

Azelis, a leading global innovation service provider in the specialty chemicals and food additives sector, announced the acquisition of 100 percent of the shares of Tunçkaya, Turkey's leading food components and additives distributor.

This acquisition further strengthens Azelis's position in the rapidly growing and attractive Turkish food market and in the broader life sciences market. Tunçkaya's product portfolio completes the Group's lateral value chain for the domestic market, further expanding its expertise and the range of products offered to its customers.

Founded by the late Zülfikar Tunç, Tunçkaya has become a leading supplier of ingredients and additives as well as various blended products for various segments of the food market, supported by long-term relationships with suppliers. Tunçkaya employs 25 people from its headquarters in Istanbul and serves over 500 customers. The transaction is expected to be completed in the first quarter of 2022, following satisfaction of customary closing conditions.

Sertaç Sürür, General Director of Azelis Turkey, said: "We are delighted to welcome Tunçkaya into the Azelis family. Its strong relationships in the food market and overall market position are a wonderful addition to our lateral value chain and complement Azelis's organic growth. Turkey is a rapidly growing region and the food segment is an increasingly important market, so we are pleased to grow together with Tunçkaya. We look forward to combining our capabilities and leveraging our combined strengths and expertise for our customers and suppliers in Turkey and across the broader EMEA region."