Based in Seoul, the distributor of personal care ingredients specialises in cosmetics and will now see the South Korean company join the Azelis portfolio.
The purchase deal
Making the announcement on 14th May 2018, Azelis, which is located in Seoul and currently has 17 employees, is set to purchase Sammi.
The speciality chemical’s latest acquisition marks its first entry into the South Korean market. It has now upped its presence to a total of 12 countries across the Asia-Pacific (APAC) area.
The transaction agreement is expected to be complete within the next three months.
Why South Korea?
“South Korea is a technologically advanced country with highly skilled, affluent middle class. A large part of the Asia Pacific personal care market is located in South Korea, making it a very attractive country, both in terms of size and product quality,” outlined Dr Hans Joachim Müller, CEO, Azelis.
Commenting on the South Korean marketplace, Joachim Müller added: “South Korea is known for its product innovation and affordable high-quality brands which are increasingly popular around the world.”
To date, Azelis has been “building a very strong technical expertise in life sciences in Asia-Pacific, personal care in particular”.
Complimentary attributes
Noting its population of more than 50 million citizens, coupled with its “prime quality” personal care products, Laurent Nataf, CEO and President ,Azelis Asia Pacific stated that its latest acquisition will enable it “to create a solid platform for the region” to enable the company to “further grow with [its] existing, global principles”.
Praising its “good customer base” and “valuable principal relationships”, Nataf commented that its “laboratory is well equipped for providing innovative solutions to the trendsetting South Korean personal care market and we are very excited to be part of this global driving force now”.
Focusing on the importance of high-quality ingredients, regulatory awareness and compliance, and responsive customer service, Mann Sup Ryoo, CEO and owner of Sammi, relayed:“Products that we specialise in require a high number of premium ingredients, exemplary regulatory and compliance know-how as well as proximity to and intimacy with customers, making us a vital part of the value chain of the South Korean personal care market.”
As Azelis continues to optimise its application work and innovation following its win at the 2018 Cosmetics Fountain Innovation Award at PCHi exhibition in China, along with its four industry innovation awards in 2017, the company will utilise Sammi’s skilled staff and laboratory to form strong formulation developments.