Press release -
Lycored sells premix business to Prinova
Global carotenoid leader Lycored is selling its nutrient premix business to US food ingredients supplier Prinova.
As part of the transaction all the company’s premix-related activities and assets – which are based mainly in the UK and China – will be transferred to Prinova.
The divestment is another step in executing the business strategy Lycored announced two years ago.It will allow the company to focus on its core activities – carotenoids for food and health, tomato-based products and micro-encapsulated ingredients.
Rony Patishi-Chillim, CEO of Lycored, said: “This is an exciting transaction for both companies.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.”
The transaction was agreed earlier this month and was completed on Friday, 23 June 2017.
For more information, contact:
Ingredient Communications
+44 (0)1293 886444
+44 (0)7494 307911
Topics
- Health, Health Care, Pharmaceuticals
About Lycored:
Committed to ‘Cultivating Wellness’, Lycored, is an international company at the forefront of unearthing and combining nature’s nutrition potential with cutting edge science to develop natural ingredients and products. Established in 1995, Lycored is the global leader in natural carotenoids for food, beverage and dietary supplement products. For more information visit www.lycored.com.
About Prinova USA:
Since 1978, Prinova has been a leader in providing high-quality ingredients, flavors and value-added nutrient fortification products to the global food, feed and wellness industries. Prinova holds strategic stocks in numerous distribution centers around the world to ensure continuity of supply and is the leading global supplier of Vitamin C, B and food grade Amino Acids. The company also has a team of application and technical specialists and certified flavorists to help customers develop, improve, and enhance the taste and function of their products. Prinova’s facilities are BRC certified. The company’s main corporate office is in Carol Stream, Illinois with the European head office in the United Kingdom. Additional regional offices are located throughout the United States as well as global sales associates in Mexico, Spain, Germany, Belgium, France, Turkey and China.
