Azelis increases its market presence in Vietnam; acquires stake in MKVN Chemicals &VIET CHEMI

This transaction is consistent with Azelis’ corporate strategy of complementing organic growth with strategic acquisitions.

Azelis is delighted to announce it has acquired a majority shareholding of MKVN Chemicals (MKVN) and Viet Chemicals Trading and Service (VIET CHEMI) through their parent company Bellekimia Singapore Pte. (Bellekimia). The acquisition will significantly increase Azelis’ presence in Vietnam allowing for significant portfolio expansion through lateral integration.

This transaction is consistent with Azelis’ corporate strategy of complementing organic growth with strategic acquisitions. 

Kamal Hezry Kassim, MD, MKVN and VIET will continue to manage the business and will report to Azelis Asia Pacific CEO & President, Laurent Nataf.

Laurent Nataf, CEO & President of Azelis Asia Pacific, explains: “Growth in Asia Pacific has been one of the strategic priorities for Azelis. By strengthening our presence in Vietnam, we will gain better coverage in the entire region which is key for us to attract new mandates with our existing principals. Azelis and our new partners MKVN CO., LTD. and VIET CHEMI CO., LTD have highly complementary business models which will help us diversify our product portfolio significantly.”

“MKVN CO., LTD. and VIET CHEMI CO.,LTD currently operate best-in-class personal care laboratories in Vietnam. These laboratories will provide important added value to Azelis’ existing technical expertise and will bring benefits to the entire region. Last but certainly not least, the Kassim family have an excellent reputation in the market and the entire management team is well known and respected in the country.”

Kamal Hezry Kassim, Managing Director of MKVN CO., LTD. and VIET CHEMI CO., LTD , adds: ”We are very excited about this partnership for several reasons. Firstly, becoming part of such a highly regarded, international player will not only provide continuity and security for our company but also additional expertise, infrastructure and growth opportunities. Secondly, we will benefit greatly from Azelis’ sustainability reputation and EcoVadis Gold rating, which are both important criteria for customers and corporate principals alike in South East Asia.”