By: ICN Bureau
Last updated : December 11, 2023 4:15 pm
The acquisition enhances Azelis' offering in the Turkish personal care market
Azelis, a leading innovation service provider in the specialty chemicals and food ingredients industry, has signed an agreement to acquire 100% of the shares of Oktrade Kimya Sanayi ve Ticaret Anonim Şirketi (Oktrade), a distributor of specialty personal care ingredients based in Istanbul, Türkiye. The acquisition enhances Azelis' offering in the Turkish personal care market.
Oktay Öztürk, Managing Director, Oktrade, says: “Joining Azelis marks a new milestone in our company's development. Our ambition is to become a leader in the Turkish personal care market thanks to our shared commitment to offering our customers the most innovative solutions and high-quality products. Leveraging Azelis' expertise and network will enable us to achieve this goal.”
Burcu Gezegen, Managing Director, Azelis Türkiye, adds: “We are excited to welcome Oktrade to the Azelis family. Our combined strength not only broadens our product offerings but also reinforces our capability to continue delivering the highest level of service and technical expertise to our customers. This transaction is another illustration of our commitment to have the most complete lateral value chain for the end markets we serve, allowing us to be the reference innovation solutions in our industry.”
Oktrade, founded in 2017, has a strong portfolio and solid technical expertise in color cosmetics, skin care and sun care portfolio.