Azelis, a leading distributor of specialty chemicals and food ingredients, announced that it will acquire 100 percent of the distribution and indent business of S Zhaveri Pharmakem Pvt Ltd, an Indian specialty distributor for the pharmaceutical industry.
Founded in 1951 and headquartered in Mumbai, the latter is one of the leading pharmaceutical companies in India, serving reputable international and domestic principals.
The acquisition of S Zhaveri’s distribution business will significantly increase Azelis’ presence and give it a significant footprint in the fast-growing Indian pharmaceutical market.
As one of the largest producers of pharmaceuticals in the world, and with a foreseen strong growth trajectory, India is very important for Azelis’ pharma expansion in the region and globally.
The closing of transaction, consistent with the company’s corporate strategy of complementing organic growth with strategic acquisitions, is expected within the next few weeks.
Laurent Nataf, chief executive officer and president, Azelis Asia Pacific, stated, “The Indian pharmaceutical industry has grown dramatically over the last 20 years, making it one of the most established exporters of pharmaceuticals, particularly generics.”
“This growth is projected to continue both domestically and internationally. Establishing a strong presence in the pharmaceutical market in India is, therefore, essential for a distributor like Azelis, and we are very excited to have found such a good partner, which will serve as a very good platform to further expand our pharma activities in India,” he added.
“S Zhaveri has an excellent reputation in the market, a unique set of principals and a very knowledgeable team with a strong expertise in excipients,” Nataf stated.
Uma Javeri, managing director, S Zhaveri, said, ”Becoming a part of such a reputable and big international player will not only provide continuity and security of our distribution business, but also additional expertise, infrastructure and growth opportunities.”
“All of those are very important to us and we are thrilled about the next phase in our company history. We have known Azelis for a while. We have a great respect for one another, and our values and ethos are shared, so we are convinced that this was the right move,” she added.
