Highlights & rationale
• This transaction improves the company’s lateral value chain by diversifying and expanding its presence in South Korea
• The brand offers a foothold in the food and health segment
• The company’s customers benefit from the brand’s relationships with renowned global ingredient suppliers
• The transaction is in line with the corporate strategy of complementing organic growth with strategic acquisitions
Founded in 2005 and headquartered in Seoul, the brand is a respected local distributor of food ingredients such as gluten, starch, sweeteners and functional food ingredients. MH is a family business owned by Maeng Moon-Ho who remains in office and supports integration.
With this acquisition, the company expands its offering in the highly attractive and expanding innovative food market of South Korea with its 51 million inhabitants and a high GDP per inhabitant.
Maeng Moon-Ho, Founder and General Manager of MH, said, “We are very grateful for the presence we have built in the South Korean food market and appreciate the opportunity to further expand our business under the ownership of Azelis, its main global relationships . Becoming part of the Azelis family will secure our future in South Korea, supported by Azelis platforms in areas such as digital, sustainability and regulation. “
Laurent Nataf, CEO and President of Azelis Asia Pacific, said, “With Azelis already having a solid food presence in other countries in the Asia Pacific region, this new acquisition will further enhance our food presence in the region. This in turn opens up the opportunity to expand our lateral food value chain in South Korea and to win new mandates from Azelis’ Asia-Pacific Food & Health Principals. So far, our presence in South Korea has mainly been in the personal care sector, so this acquisition also offers excellent complementarity and diversification in the food market. “