Azelis acquires Solchem Nature to expand nutraceutical market reach in Spain, broader Europe

SPAIN – Azelis has acquired 100 percent of Solchem Nature S.L., a Spain-based distributor of premium nutraceutical ingredients and formulations. 

The move expands Azelis’ reach within the European nutraceutical market and supports its broader strategy for targeted growth across the EMEA region.

Headquartered in Barcelona, Solchem was founded in 1994 to distribute raw materials in the dietary supplements sector. 

Over time, it has evolved into a key player in the nutraceutical market, offering specialized functional ingredients in more than 20 categories, including cognitive health, women’s wellness, metabolic management, gut health, and beauty-from-within. 

The company maintains long-standing relationships with over 250 customers across Spain and other European markets.

With this acquisition, Azelis gains access to Solchem’s regional distribution network and technical capabilities, enhancing its portfolio of science-backed and sustainable nutraceutical solutions. 

Solchem’s 14-person team, with deep market expertise, is expected to strengthen Azelis’ value chain in the sector.

Strengthening market position through expertise and network

Javier Pérez, Managing Director at Azelis Iberia, stated that the integration of Solchem into Azelis brings complementary expertise and extends the company’s service offering in the nutraceutical industry. 

According to Pérez, the two companies share aligned values and a collaborative approach, which are expected to support the expansion of Azelis’ presence in the Spanish and broader EMEA nutraceutical supply chains.

Jose Manuel González, General Manager of Solchem, remarked that the acquisition represents a “natural fit” for both organizations, underpinned by their shared focus on innovation and quality. 

González highlighted the continuity of Solchem’s operations under Azelis’ umbrella and expressed confidence in the value the collaboration will bring to both customers and principals.

Expanded portfolio and distribution reach

The acquisition gives Azelis customers in Europe extensive access to Solchem’s specialized nutraceutical portfolio and development expertise. 

Principals will also benefit from greater product visibility across the nutraceutical segment, leveraging Solchem’s established client base. This aligns with Azelis’ strategy of building scale in focus segments through targeted acquisitions that enhance its lateral value chain of ingredients and services.

The transaction follows Azelis’ ongoing series of strategic acquisitions aimed at building out its global network and innovation capabilities. It also coincides with Azelis’ recent financial reporting for FY2024.

Azelis reports stable FY2024 performance 

In its financial year ending 2024, Azelis reported a gross profit of €1.0 billion (US$1.10B), reflecting a 4.8 percent increase year-over-year. 

Revenue reached €4.0 billion (US$4.39B), a 1.5 percent increase compared to 2023 (2.6 percent at constant currency). 

Adjusted EBITA came in at €470.7 million (US$516.14M), marking a marginal rise of 0.9 percent, with the adjusted EBITA margin remaining at 11.2 percent.

The company’s net profit remained stable at €189.5 million (US$207.79M), which includes €26 million (US$28.51M) in non-cash financial charges linked to hyperinflation accounting and debt refinancing activities. 

The conversion margin declined slightly to 45.7 percent, compared to 47.4 percent the previous year.

Azelis operates in 65 countries and employs over 4,300 people. It offers a comprehensive value chain of specialty chemicals and food ingredients across life sciences and industrial sectors. 

The company also operates a network of over 70 application laboratories worldwide, providing formulation support and technical services throughout the product development process.