Lycored, the carotenoid-based wellness product producer, is selling its nutrient premix business to US food ingredients supplier Prinova.
As part of the deal, all the company’s premix-related activities and assets – which are based mainly in the UK and China – will be transferred to Prinova, a supplier of ingredients, flavors, blending and contract manufacturing solutions.
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: “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 added: “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 President Don Throp said: “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 added: “This acquisition gives Prinova a global footprint with six manufacturing sites around the world located on three different continents.”