Azelis announces it has signed an agreement to acquire 100% of the outstanding shares of Vigon International, Inc. (“Vigon”), a leading US specialty distributor and manufacturer of ingredients for the flavors, fragrances, and cosmetics market segments. Vigon offers a comprehensive product portfolio to its customers, including flavors, natural and synthetic aroma chemicals, actives, functional ingredients, and essential oils. The acquisition of Vigon will provide Azelis access to these strategic end markets and enhances Azelis’ position in the life sciences sector.
Highlights & rationale
- The acquisition of Vigon enables Azelis to gain a strong position in the growing and non-cyclical markets of flavors and fragrances in the Americas.
- It will increase Azelis’ presence in the life sciences sector.
- The transaction, expected to close the second quarter of 2021, is consistent with Azelis’ strategy of complementing organic growth with strategic acquisitions.
Based in East Stroudsburg, Pennsylvania, Vigon represents some of the world’s most prominent flavor and fragrance producers and ingredient manufacturers serving over 1,000 customers in the flavors, fragrances, and cosmetics markets. Vigon employs 120 team members and is owned and managed by Steve Somers Sr., and his son Steve Somers Jr., who will both remain with the company post-closing to continue to lead the business. Vigon was founded in 1988 and has been under the current management since 1998. The company enjoys an excellent reputation as a result of their longstanding relationships with various blue-chip principals, breadth of product portfolio, value-added contract manufacturing and blending capabilities, exceptional customer service, and growing presence in fast-growing natural ingredients.
Dr. Hans Joachim Müller, Azelis Chief Executive Officer, says:
“Joining forces with Vigon gives us a unique opportunity to acquire a market leader in the attractive North American flavors and fragrances market segments with ample synergy potential. Vigon is a strategic platform, providing us an important foothold in the US market with a sizeable potential for future growth and strengthens Azelis’ overall business profile.”
Both companies have a strong focus on sustainability, digitalization and providing innovative solutions. Throughout its history, Vigon has been committed to health and safety, the welfare of its employees and the environment, and energy conservation. Azelis has had two consecutive EcoVadis Gold ratings and has just released its new sustainability strategy, ‘Action 2025’, that outlines the company’s commitments to sustainability until 2025.
Steve Somers Sr., President at Vigon, adds:
“We have enjoyed a strong track record of growth underpinned by our ‘Passion for Simplicity’ in all that we do at Vigon. We pride ourselves on our long-term relationships with our supply partners and customers. Becoming part of Azelis, a global market leader, is a new milestone in our company’s development. We share similar strategies and culture and I am confident that Vigon will continue to thrive under its new ownership.”
Frank Bergonzi, Azelis Americas Chief Executive Officer & President, comments:
“The acquisition of Vigon is an important component of our overall growth strategy for Azelis in the Americas. As a leader in the US flavors and fragrances market segments, Vigon provides Azelis the impetus for geographic expansion in these markets across North America, as well as a platform for future acquisitions of complementary businesses in the food ingredients segments. Vigon’s co-manufacturing and blending capabilities provide us an added value proposition that we can leverage to better serve our principals and customers. We are pleased to welcome Steve Sr., Steve Jr. and the entire Vigon team to the Azelis family. We have been impressed by their passion, strong entrepreneurial spirit and “can do” attitude. In short, this is an excellent fit with the Azelis culture, on many levels.”
Steve Somers Jr., Vice President and Director of Commercial Activities at Vigon, states:
“I am excited to join the Azelis family, as their culture, commitment to social responsibility, sustainability and business strategy align closely with Vigon’s. This is a promising development in Vigon realizing its full potential, as it continues on its journey from where it started 33 years ago. I look forward to continuing to lead our commercial organization and to our future as part of Azelis.”
Azelis Americas is a leading specialty chemicals and food ingredients distributor in North America. Its go-to market strategy, quality products from top tier supplier partners, experienced application laboratories teams and superior technical selling efforts, make Azelis in Americas ‘best in class’. With Azelis Americas’ headquarters in Westport, CT, it serves customers and principals in the United States, Canada, and Mexico.
The acquisition of Vigon illustrates the support provided by EQT since the initial acquisition of Azelis. EQT is confident that the expanded range of services and global reach provided by this acquisition will continue to bring benefits to customers and principals of the combined group.