VivaPro will focus on exploring, researching, and co-developing products in the probiotic market segments adjacent to the existing core business areas of the two companies, with an pipeline of research and development on probiotic strains, technologies, and applications. VivaPro will leverage a dedicated team of research and development professionals that will bring their repertoires to the project.
“With this strategic joint venture we bring together the distinct capabilities of Probi and Viva 5 in order to meet the increased consumer interest and demand for consumer friendly applications in areas such as functional food, beverages, and pet health,” Albert Dahbour, Viva 5 exectutive vice president, said.
Viva 5 is in its 15th year of experience in the probiotic space, and was the first company to develop and commercialize a shelf-stable probiotic gummy with demonstrated 3-year probiotic stability. It has invested in preclinical and clinical research with its probiotic concepts. Viva 5 has licensed, developed, and commercialized a variety of probiotics for global brands in various channels.
Probi manufactures and supplies the health and food industry with scientifically-substantiated probiotics designed for specific health benefits. Today, Probi is primarily active in dietary supplements, as well as select food and beverage applications. The joint venture will seek out new market niches, with the target to broaden the market reach for both companies.
“This joint venture I an important step in our commercial efforts to address new and attractive market niches,” Tom Rönnlund, Probi CEO, said. “Even in these turbulent times we see great opportunities to jointly build a successful business, based on our longstanding relationship and confidence in our respective abilities to create scientific and commercial success.”