The acquisition, Belgium-headquartered Azelis said, enables it to offer a wider and more diversified range of products and services to its customers in the agricultural and horticultural markets as Agspec's core business is dedicated to formulating and delivering solutions to its customers.

Established in 2004, Agspec is headquartered in Mount Gambier, South Australia, with sales representatives covering Western Australia, South Australia, Victoria, and Queensland. The company is co-managed by two founders, Jonathon Lillecrapp and Andrew Glynn, who will remain with the company.

Lillecrapp and Glynn commented: “We are delighted to be joining Azelis, with their expertise in developing and marketing specialty chemicals, as this is synonymous with the Agspec business model. Azelis provides the critical mass for Agspec to fully realize its potential. Innovation being at the heart of Azelis' strategy, it seemed obvious to us that they would be the best and most complementary partner.”

Sertaç Sürür, CEO and president of Azelis APAC, added: “This acquisition strengthens our lateral value chain for the broadacre and horticultural markets, enabling us to offer a truly compelling proposition for both principals and customers. Agspec’s portfolio is highly complementary to our current one and will enhance the life sciences range of Azelis Australia.”