06.26.17
Global carotenoid supplier Lycored is selling its nutrient premix business to U.S. food ingredients supplier Prinova.
As part of the transaction, Lycored’s premix-related activities and assets, which are based mainly in the U.K. and China—will be transferred to Prinova.
The divestment will allow Lycored to focus on its core activities: carotenoids for food and health, tomato-based products, and micro-encapsulated ingredients.
“This is an exciting transaction for both companies,” said Rony Patishi-Chillim, CEO of Lycored. “For Lycored it is a key step in realizing our strategic direction and brand promise to cultivate wellness. By focusing on our core technologies and our fully vertically integrated business, we will be able to enhance our offering and maintain our dedication to customers.”
She continued: “Prinova is inheriting some great teams and bringing in its own expertise. We are confident that it will continue to provide excellent service to premix customers across the world while we will even better focus on our main business areas.”
Prinova is a global supplier of ingredients, flavors, blending, and contract manufacturing solutions for the food, beverage and nutrition industries. Prinova holds strategic stocks in numerous distribution centers around the world to ensure continuity of supply.
“Prinova has made substantial investments in our North American premix operations and supplies a wide variety of dry and liquid nutrient and flavor premix blends in the U.S. and internationally,” said Don Thorp, president, Prinova. “The addition of these premix capabilities gives Prinova the ability to extend these offerings on a global basis, customized to the needs of the regional markets,” he said.
The Lycored facilities in China and U.K. have been supplying leading international food companies with premixes to fortify their products with vitamins, minerals, and other nutrients. These premixes address the cereal, beverage, dairy, infant formulation, and other premix categories, reflecting the ability to deliver product solutions to the entire range of premix markets. “This acquisition gives Prinova a global footprint with six manufacturing sites around the world located on three different continents,” Mr. Thorp said.
David York, CFO, Prinova stated, “Prinova is incredibly excited about this acquisition. We now feel very confident we can supply our customers worldwide.” As part of the agreement, Prinova will retain all Lycored’s employees in China and the U.K., he added.
As part of the transaction, Lycored’s premix-related activities and assets, which are based mainly in the U.K. and China—will be transferred to Prinova.
The divestment will allow Lycored to focus on its core activities: carotenoids for food and health, tomato-based products, and micro-encapsulated ingredients.
“This is an exciting transaction for both companies,” said Rony Patishi-Chillim, CEO of Lycored. “For Lycored it is a key step in realizing our strategic direction and brand promise to cultivate wellness. By focusing on our core technologies and our fully vertically integrated business, we will be able to enhance our offering and maintain our dedication to customers.”
She continued: “Prinova is inheriting some great teams and bringing in its own expertise. We are confident that it will continue to provide excellent service to premix customers across the world while we will even better focus on our main business areas.”
Prinova is a global supplier of ingredients, flavors, blending, and contract manufacturing solutions for the food, beverage and nutrition industries. Prinova holds strategic stocks in numerous distribution centers around the world to ensure continuity of supply.
“Prinova has made substantial investments in our North American premix operations and supplies a wide variety of dry and liquid nutrient and flavor premix blends in the U.S. and internationally,” said Don Thorp, president, Prinova. “The addition of these premix capabilities gives Prinova the ability to extend these offerings on a global basis, customized to the needs of the regional markets,” he said.
The Lycored facilities in China and U.K. have been supplying leading international food companies with premixes to fortify their products with vitamins, minerals, and other nutrients. These premixes address the cereal, beverage, dairy, infant formulation, and other premix categories, reflecting the ability to deliver product solutions to the entire range of premix markets. “This acquisition gives Prinova a global footprint with six manufacturing sites around the world located on three different continents,” Mr. Thorp said.
David York, CFO, Prinova stated, “Prinova is incredibly excited about this acquisition. We now feel very confident we can supply our customers worldwide.” As part of the agreement, Prinova will retain all Lycored’s employees in China and the U.K., he added.
