Azelis has signed an agreement to acquire 100% of the shares of Gillco Ingredients, a specialty ingredient provider in the food and nutrition market in the US.
The transaction is expected to close in the second quarter of 2023 after fulfilling customary closing conditions.
The acquisition represents a strategic expansion into the US’s attractive food and nutrition market, reinforcing Azelis’ footprint in the life sciences.
Growth strategy
In addition to the group’s flavors and fragrances offering, Gillco allows Azelis to create a compelling portfolio and execute its growth strategy in the US food and nutrition industry and the broader life sciences in North America.
Dr. Hans Joachim Müller, Azelis’ CEO, says the acquisition strengthens its lateral value chain for the US food and nutrition market and broader life sciences segment.
“It allows us to offer a compelling proposition to principals and customers. In line with our strategic vision to be the preeminent innovation service provider in all territories where we operate, we welcome Gillco to the Azelis family.
Woman taking supplement
Meanwhile, Frank Bergonzi, CEO of Azelis Americas, adds that Gillco, with its national reach, established market position and long-standing relationships with several blue-chip principals, will give the company a significant foothold in the US food market, a strategic priority for Azelis Americas.
“Gillco and Azelis are committed to technical expertise, strong digital capabilities, and sustainability. This combination will provide many operational synergies and a platform for further growth by leveraging Azelis’ international infrastructure and global lab network,” he explains.
Founded in 1982, Gillco has developed long-standing relationships with global blue-chip suppliers, a diverse portfolio of specialty ingredients and applications and strong market expertise across most food industry segments, including bakery, culinary, beverage, dairy and nutraceutical markets.
The company has 40 employees serving almost 1,000 customers from its San Marcos, California headquarters. Gillco’s staff are expected to transition to Azelis, including the owner, Bill Gillies, who will remain with the company to ensure a seamless transition.
Landmark moves for Azelis
Last week, the company expanded its partnership with Novozymes, allowing Azelis to distribute Novozymes’ bio-based agriculture solutions, including its portfolio of microbial inoculant, biostimulant and biocontrol solutions, in Malaysia.
Azelis also recently partnered with Alvinesa Natural Ingredients to strengthen its Asia Pacific food and nutrition portfolio.
In Europe, Azelis strengthened its partnership with Kerry for the food & nutrition market.
