Ingredients specialist Lycored is selling its nutrient premix business to US food ingredients supplier Prinova.
The divestment is another step in executing the business strategy Lycored announced two years ago, allowing the company to focus on its core activities – carotenoids for food and health, tomato-based products and micro-encapsulated ingredients.
Lycored CEO Rony Patishi-Chillim said: “This is an exciting transaction for both companies. For Lycored it is a key step in realising 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.
“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.
Company president Don Thorp said: “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 US and internationally.
“The addition of these premix capabilities gives Prinova the ability to extend these offerings on a global basis, customised to the needs of the regional markets.”
As part of the transaction, Lycored’s premix-related activities and assets, based mainly in the UK and China, will be transferred to Prinova. All Lycored’s employees in China and the UK will be retained.
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