Chemroy is complementary to Azelis in terms of markets served, principal relationships and product offering. Azelis also noted it has well established relationships with the majority of Chemroy's principals.
Through this transaction, Azelis acquire 100% of Chemroy Canada Holdings Inc. Chemroy was founded in 1967 and has 59 employees. Headquartered in Brampton, Ontario, Chemroy offers warehousing across Canada and has additional offices in Laval, Quebec and Vancouver, British Columbia.
"This transaction is an important milestone for Azelis in the Americas,” said Frank Bergonzi, CEO and president Azelis Americas. “Chemroy is a leading distributor of specialty chemicals and food ingredients in Canada, with an excellent reputation. We share similar values and culture, and this combination will ensure a more robust product portfolio to our customers."
Hans Joachim Müller, Group CEO Azelis, added: "With the acquisition of Chemroy, we establish a strong footprint in Canada. This is an excellent strategic fit and we are excited by the opportunity for further growth, in both Canada and the U.S. Chemroy's activities in the food and nutraceutical markets will allow us to expand this segment, by leveraging our relationships with global partners."
John Graham, President at Chemroy, concluded: "We are confident in the success of this acquisition, which is an exciting opportunity for our employees to join forces with an established global player in Azelis. We share similar strategies and culture and I am confident that Chemroy will continue to thrive under its new ownership."