TRANSACTIONS / Sale of Tunçkaya to Azelis

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Belgium-based Azelis SA, one of world’s leading specialty chemicals and food ingredients distributors acquired Tunckaya, a leading Turkish food ingredients distributor.

Ventura Partners acted as the exclusive financial advisor to the shareholders of Tunckaya on the transaction.

Established in Istanbul in 1973, Tunckaya is a leading provider of ingredients and additives, as well as a range of blended products for various segments of the food market in Turkey. With its 25 employees, Tunckaya serves around 500 customers.

Founded in Belgium in 2001, Azelis distributes specialty chemicals and food ingredients in 56 countries. With its 3,000 employees and 45,000 customers, Azelis generates annual revenues of about €2.5 billion. Azelis had previously entered the Turkish market through its acquisitions of Tara Kimya and Ekin Kimya in Turkey. This acquisition further strengthens Azelis’ position in the fast-growing and attractive Turkish food market, as well as in the broader life sciences market.