The deal, financial terms of which were not disclosed, covers S&D’s raw materials and ingredient supply, distribution and marketing operations, but does not include its finished dosage unit, S&D Pharma, or the synthesis and lab supply business, Chemgo.
The S&D units covered by the deal operate in 15 countries that include some rapidly expanding pharmaceutical markets which Azelis CEO, Joris Coppye, acknowledged as a motivation for the acquisition.
He suggested that: “S&D will give Zelis a leading position in personal care and pharma in the CEE region, including the CIS countries,” and added that it will also support efforts to consolidate the firm’s Indian operations and build in China.
Coppye also said the acquisition will help Azelis expand in new markets, citing Canada, Australia, the Middle East and Africa as examples.
The firm did not respond to requests for additional information.